Even post-pandemic surging demand for cross-border e-commerce will see freighters dominating air cargo, according to Cainiao. The Alibaba logistics unit launched its latest freighter route this week: a direct charter flight between Singapore and China’s Hainan Island five times a week. Home to increasingly popular domestic/tourist destinations of Sanya and Haikou, Hainan is...
It’s big news that will shock no one. Some two years after DSV leapt into the list of forwarding superstars with its bold acquisition of Panalpina, it is now adding some $4bn to annual revenues with the acquisition of Agility’s Global Integrated Logistics (GIL). It’s a new twist in an old tale:...
Container freight indices are on the rise again, but even at their highly elevated levels they mask the true cost of shipping. For example, the Freightos Baltic Index (FBX) North European component jumped by 6% this week, to $7,791 per 40 ft – a huge 450% increase on the rate a year...
Money clearly means power and air cargo, finally, has won its moment in the sun, a rare gift from Covid-19. Authorities are now starting to consider the industry’s needs and how various challenges can be overcome, just as IATA publishes data showing that air cargo will this year account for one-third of...
The scale of the improvement in the liner industry’s fortunes was laid bare today when OOCL released its first-quarter operational update showing its average revenue per container, across all trades, had increased 58.3%, year on year. This was accompanied by a 28.3% year-on-year increase in volumes, which led to OOCL posting provisional...
(Note to the reader: Mr Hidden Lead, a senior executive from the global logistics community, had something to say this week. Something so strong that it couldn’t possibly pass unnoticed. If you disagree with what follows, we invite you to submit your rebuttal. You can get in touch with Premium here.) TWELVE global...
Canadian National (CN) is trying to derail the planned marriage of Kansas City Southern (KCS) and Canadian Pacific (CP) by wooing KCS shareholders with a higher offer. At US$325 per share for the US rail company, CN’s offer values KCS at $33.7bn, beating the $29bn purchase price rival CP agreed last month. CN...
Container spot rates are beginning to head upwards again across all trades from already elevated levels, as carriers reduce their commitment to contract volumes in favour of much higher FAK rates. The Freightos Baltic Index (FBX) China-North Europe component edged up to $7,316 per 40ft this week, and market reports to The...
Nearly a decade after it was first mooted, the joint IATA-FIATA Air Cargo Progamme (IFACP – previously called CAMP), by which forwarders stopped being ‘agents’ of the airlines, has been quietly dropped, with carriers and their customers unable to agree. Instead, IATA’s Cargo Agency Conference (CAC) has chosen to give freight forwarders...
As the fallout from Ever Given cascades through container supply chains, it’s getting more difficult for Indian forwarders to secure shipping capacity. According to Rakesh Pandit, CEO of Conbox Logistics: “Not only are European shipments running late, but we’re seeing a lot of cancelled bookings placed in March from countries such as Italy,...
