UK airfreight slump hits Japanese giants hard
05 / 08 / 2010
NO group of forwarders suffered as much in the UK market in 2009 as the large Japanese logistic companies.
Hit by a dramatic fall in trade between the UK and Japan, combined with the withdrawal of the B747 freighter service between Tokyo Narita and London Heathrow, the CASS revenues have collapsed to a new low.
The key victim was Nippon Express, that saw revenues go into freefall dropping by well over 50 per cent. This saw it tumble out of the UK top 10, falling from seventh place in 2008 to 18th place in 2009.
Other Japanese forwarders suffered similar, if not quite so dramatic falls. Kintetsu World Express lost some 43 per cent of revenue, falling from 21st to 28th in the rankings. NNR Aircargo lost a similar percentage of spend and again fell noticeably down the rankings from 24th to 31st.
Yusen fell out of the top 50 altogether as its spend fell from £943,000 to £508,700 pushing it from 49th place to 60th.
Elsewhere in the table, as always, there were winners and losers.
DHL remained easily the top UK forwarder, although its spend dropped from £59,610,400 in 2008 to 44,257,600 in 2009. This fall was more or less in line with the UK industry drop as a whole.
For the full story read the latest free digital edition of Air Cargo News, dated 9 August, here.