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class="DoubleColumnContainer_wrapper__OOLmD"><div class="DoubleColumnContainer_left__v2CWC"><div class="c-page-header"><div class="c-page-header__breadcrumbs"><div class="c-breadcrumbs"><div class="c-breadcrumbs__item"><a href="/" class="c-breadcrumbs__link"> Home </a></div><div class="c-breadcrumbs__item"><span class="material-symbols-outlined">chevron_right</span><a href="/air-cargo" class="c-breadcrumbs__link "> air cargo </a></div><div class="c-breadcrumbs__item"><span class="material-symbols-outlined">chevron_right</span><a href="/air-cargo/air-cargo-forwarder-news" class="c-breadcrumbs__link c-breadcrumbs__link--active "> air cargo forwarder news </a></div></div></div><h1 class="Heading_heading__h8IMw Heading_bold__h_y9l Heading_dark__jmb5G" style="font-size:var(--font-size-jumbo-fluid)">Air Cargo Forwarder News</h1><div class="c-page-header__description"><span>Journal of Commerce offers extensive air freight forwarder news and analysis of air cargo forwarding, including topics such as strategies, capacity, services.</span></div></div><h2 class="Heading_heading__h8IMw Heading_bold__h_y9l Heading_dark__jmb5G" style="font-size:var(--font-size-2)">The latest <i>Air Cargo Forwarder News</i>  & Analysis</h2><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/freightos-e2open-link-up-on-airfreight-e-bookings-for-forwarders-5822867" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5822872_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Freightos, e2open link up on airfreight e-bookings for forwarders</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Eric Johnson, Senior Technology Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">By connecting to forwarder-customers of software vendor e2open, Freightos is continuing its push to develop electronic booking capability in the air freight industry.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Logistics Technology News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/air-cargo-peak-season-elevates-as-chinese-export-rates-hit-2024-high-5787362" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5787358_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Air cargo peak season elevates as Chinese export rates hit 2024 high</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Volume and rates on the Asian export corridors to the US and Europe have been high all year and online shopping promotions in November are further stoking the market.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Transport, Trade and Regulation News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/asia-europe-air-cargo-demand-jumps-while-de-minimis-scrutiny-hampers-trans-pac-5778528" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5783729_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Asia-Europe air cargo demand jumps while ‘de minimis’ scrutiny hampers trans-Pac</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The recent rise in volume to Europe contrasts sharply with China-to-US tonnage that in the second half has fallen far below year-over-year levels following greater scrutiny by US authorities on e-commerce imports.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Transport, Trade and Regulation News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/value-of-schenker-takeover-will-manifest-in-expanding-services-dsv-ceo-5778478" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5778363_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Value of Schenker takeover will manifest in expanding services: DSV CEO</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Jens Lund this week emphasized the earnings potential of the takeover, pointing to greater scale and a wider portfolio of services that would increase the combined entity’s reach.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Supply chain</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/dsv-kn-post-solid-q3-revenue-gains-but-profit-margins-under-pressure-5772669" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5772678_0.1.JPG"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">DSV, K+N post solid Q3 revenue gains, but profit margins under pressure</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Rising competition and tough negotiations with customers are believed to be behind the narrowing profit margins that were plainly displayed in the financial results of the two forwarders.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/savvy-air-cargo-shippers-use-strategic-rate-space-deals-to-offset-capacity-constraints-5751658" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5751653_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Savvy air cargo shippers use strategic rate, space deals to offset capacity constraints</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">A year of disruption has been on-the-job training for air freight shippers that are now battle-hardened and prepared for a tough end-of-year peak season.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/government-board-approvals-clear-way-for-dsv-db-schenker-merger-5740954" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5740946_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Government, board approvals clear way for DSV-DB Schenker merger</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Keith Wallis, Special Correspondent | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Deutsche Bahn’s supervisory board approved DSV’s $16 billion acquisition of rival forwarder DB Schenker despite opposition from union members on the board.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/db-schenker-customers-spooked-by-dsv-takeover-welcome-at-dhl-ceo-5733653" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5733645_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">DB Schenker customers spooked by DSV takeover welcome at DHL: CEO</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The integration of two large companies in similar industries is “particularly challenging,” according to Tobias Meyer, who withdrew DHL’s interest in DB Schenker earlier this year.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Supply chain</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Transport, Trade and Regulation News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/dsv-takeover-signals-end-to-150-years-of-db-schenker-brand-5730873" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5730872_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">DSV takeover signals end to 150 years of DB Schenker brand</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">While there are still regulatory hurdles to clear, a spokesperson for DSV told the Journal of Commerce the combined company “will continue under the DSV brand” going forward.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Supply chain</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/limited-air-freight-capacity-available-for-us-port-strike-driven-cargo-shift-5730770" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5730898_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Limited air freight capacity available for US port strike-driven cargo shift</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Eight straight months of double-digit volume growth and a massive increase in trans-Pacific and Asia-Europe e-commerce volumes, mostly shipped from China by air, has left air cargo capacity in short supply.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/lure-of-robust-asian-peak-season-a-magnet-for-air-cargo-capacity-5728658" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5728212_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Lure of robust Asian peak season a magnet for air cargo capacity</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Sustained demand for air cargo on the trans-Pacific and Asia-Europe trades and the promise of rising rates through the end-of-year peak are encouraging airlines to pull capacity from less-lucrative lanes.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/robust-e-commerce-demand-a-gift-for-air-cargo-carriers-airline-executives-5726546" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5726553_0.1.PNG"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Robust e-commerce demand a gift for air cargo carriers: airline executives</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Still, the buoyant mood of carriers contrasts with global forwarders that have low levels of exposure to e-commerce shipments and are under pressure to find capacity for traditional customers.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/brace-for-impact-warning-as-air-cargo-heads-into-historic-peak-season-5725527" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5725526_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">‘Brace for impact’ warning as air cargo heads into historic peak season</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Eight straight months of double-digit volume growth in global air freight markets has kept freighters full and flying at peak utilization, and continued demand is expected to outstrip available capacity through Q4 and beyond.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/cathays-a350-groundings-to-upset-hong-kongs-overheated-air-cargo-market-5717966" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5717873_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Cathay’s A350 groundings to upset Hong Kong’s overheated air cargo market</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The extent of the disruption to air freight schedules is not yet apparent, but the loss of the belly cargo space, even for a short period, comes at a particularly inconvenient time.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/air-cargo-shrugs-off-seasonality-to-ride-wave-of-e-commerce-demand-5705136" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5705134_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Air cargo shrugs off seasonality to ride wave of e-commerce demand</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Chinese online marketplaces have hit on a rich vein of business-to-customer volumes, with the current boom in international air freight driven by cross-border e-commerce rather than a recovery of traditional manufacturing.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/air-cargo-thrives-on-e-commerce-disruption-driven-demand-5703214" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5703215_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Air cargo thrives on e-commerce, disruption-driven demand</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Peak season has come early to air freight markets and with ocean shipping disrupted and e-commerce filling planes out of Asia, the demand is set to extend through the second half and beyond.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/bullish-fundamentals-portend-solid-peak-season-for-air-ocean-markets-5703070" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5703071_1.0.PNG"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Bullish fundamentals portend solid peak season for air, ocean markets</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">More than 70% of air cargo space controlled by Kuehne + Nagel subsidiary Apex has been presold for the third and fourth quarters.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/high-ocean-demand-from-asia-shows-signs-of-peaking-dsv-ceo-5703080" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5703081_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">High ocean demand from Asia shows signs of peaking: DSV CEO</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Jens Lund believes the supply and demand balance on the major trade lanes is being restored as front-loaded shipments make their way through the supply chain.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/high-ocean-rates-air-cargo-peak-expected-to-elevate-kn-h2-profit-ceo-5703084" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5703085_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">High ocean rates, air cargo peak expected to elevate K+N H2 profit: CEO</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Kuehne + Nagel’s Stefan Paul presented a sunny outlook for the rest of the year, saying he expects strengthening air and ocean yields to turn around declines reported across most of the forwarder’s financial metrics in the first half.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/maersks-new-boeing-freighter-flies-into-china-europe-service-5192304" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5192305_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Maersk’s new Boeing freighter flies into China-Europe service</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The carrier wants a third of its air cargo volume to be handled within an owned and controlled network as part of its integrated logistics strategy.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/high-flying-air-cargo-market-heading-for-hot-peak-season-5192258" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5192259_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">High-flying air cargo market heading for ‘hot’ peak season</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Shippers that have not yet arranged air freight capacity out of Asia for the fourth quarter could be in for an expensive ride, according to Xeneta.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/overseas-e-commerce-platforms-not-playing-by-eu-rules-digital-lobby-groups-5192224" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5192225_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Overseas e-commerce platforms not playing by EU rules: digital lobby groups</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Chinese online platforms were not specifically mentioned in an open letter to the European Commission, but the groups noted that government subsidies made competition with Asia-based e-commerce platforms difficult.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/huge-volume-highlights-need-for-e-commerce-special-handling-code-iata-5192284" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5192285_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Huge volume highlights need for e-commerce special handling code: IATA</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">With more than 80% of e-commerce transported as air cargo, there are growing safety and transparency issues given the minimal view provided of what is actually inside the parcels.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/kazakhstan-railways-embarks-on-maersk-style-integrated-logistics-transformation-5192294" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5192295_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Kazakhstan Railways embarks on ‘Maersk style’ integrated logistics transformation</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The state-owned rail operator believes it can leverage soaring demand for China-Europe rail freight to develop a multimodal service offering underpinned by a strong air cargo network.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/ocean-disruption-modal-shift-puts-air-cargo-on-course-for-solid-2024-5244261" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5244264_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Ocean disruption modal shift puts air cargo on course for solid 2024</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Cargo owners battling to find space on ships filled by an unseasonal demand surge are taking all available air freight capacity out of Asia, the Middle East and India, with rate levels rising accordingly.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/seko-reinstated-to-us-duty-free-program-but-still-pursuing-action-against-cbp-5213948" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5213965_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">SEKO reinstated to US duty-free program, but still pursuing action against CBP</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Eric Johnson, Senior Technology Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The forwarder says it has been “conditionally” restored to CBP’s so-called Type 86 program and has filed a complaint against the agency to get reinstated without conditions.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Transport, Trade and Regulation News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/cbp-curtails-low-value-shipment-access-for-multiple-customs-brokers-5219205" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5219207_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">CBP curtails low-value shipment access for multiple customs brokers</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Eric Johnson, Senior Technology Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Growth in the use of a low-value shipment rule has attracted critics, who say the de minimis program provides a loophole for e-commerce companies abroad to evade duties.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Transport, Trade and Regulation News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/no-sign-of-air-freight-demand-easing-as-slow-summer-nears-5234281" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5234282_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">No sign of air freight demand easing as ‘slow’ summer nears</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Underpinning strong volume growth is booming demand for Chinese e-commerce in the US and modal shift from ocean to air in South Asian countries to mitigate Red Sea disruptions.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/lower-ocean-air-rates-weigh-on-dhl-global-forwarding-despite-volume-growth-5199642" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5199644_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Lower ocean, air rates weigh on DHL Global Forwarding despite volume growth</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Keith Wallis, Special Correspondent | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Group CFO Melanie Kreis would not comment on the near-term freight rate outlook or the likelihood of a modal shift from ocean to air or sea-air caused by supply chain disruptions, including the ongoing vessel diversions to avoid the Red Sea.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/supply-demand-disruption-continues-to-elevate-south-asia-air-cargo-rates-5221896" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5221901_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Supply-demand disruption continues to elevate South Asia air cargo rates</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Given the huge volumes involved in ocean freight, even a small percentage shift in transport mode from South Asia shippers is enough to keep air cargo demand and rates buoyant.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/sustained-demand-for-e-commerce-to-lift-2024-air-cargo-market-forwarders-5219607" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5219609_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Sustained demand for e-commerce to lift 2024 air cargo market: forwarders</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Chinese e-commerce marketplaces are rapidly expanding their global reach as strong demand from online shoppers in the US and Europe drives up air freight volumes and keeps transport capacity tight.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/journal-of-commerce-rankings-3pls-struggle-with-post-pandemic-sugar-high-5234331" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5234332_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Journal of Commerce Rankings: 3PLs struggle with post-pandemic sugar high</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Eric Johnson, Senior Technology Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The top end of the global 3PL sector is populated by companies that see a down market as a chance to focus on higher-yield customers and those that see a chance to build market share.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Supply chain</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/msc-unit-secures-takeover-of-french-forwarder-clasquin-5244502" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5244505_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">MSC unit secures takeover of French forwarder Clasquin</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The acquisition will add significant volume of air and ocean cargo to the MSC subsidiary and extend its reach into European markets.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/demand-soars-for-asia-europe-sea-air-option-to-avoid-longer-africa-transit-5222139" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5222144_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Demand soars for Asia-Europe sea-air option to avoid longer Africa transit</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Dubai continues to be one of the more popular destinations for European importers with time-sensitive cargo, with the airport able to covert ocean freight to air cargo in 24 hours.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Asia-Europe</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/maersk-launches-online-air-freight-tool-targeted-at-indian-shippers-5222288" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5222303_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Maersk launches online air freight tool targeted at Indian shippers</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Eric Johnson, Senior Technology Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Maersk’s integrator strategy has encompassed more access to air freight capacity, including a new tool for shippers in India to digitally price and book specific flights.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Logistics Technology News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/pre-lunar-new-year-rush-red-sea-disruption-boost-asia-europe-air-rates-demand-5214954" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5214971_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Pre-Lunar New Year rush, Red Sea disruption boost Asia-Europe air rates, demand</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">A seasonal push to get shipments out of Asia before factories close for the Lunar New Year may be masking a switch to air from disrupted ocean networks.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/forward-omni-logistics-seal-long-awaited-deal-to-merge-businesses-5241186" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5241191_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Forward, Omni Logistics seal long-awaited deal to merge businesses</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">William B. Cassidy, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">With an amended merger agreement, months of contentious litigation are behind the companies, clearing the way for their combined forwarding and LTL operations. </div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Surface</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trucking News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">LTL</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/surging-e-commerce-demand-lifts-hong-kong-air-cargo-into-peak-season-5244848" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5244851_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Surging e-commerce demand lifts Hong Kong air cargo into peak season</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Keith Wallis, Special Correspondent | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Online shopping in North America and Europe has generated huge air freight volume out of China, with demand expected to continue past the Lunar New Year in February.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/asian-air-freight-stages-us-europe-rate-surge-in-november-5234411" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5234412_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Asian air freight stages US, Europe rate surge in November</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">But rising air cargo rates on the major Asian export trade lanes do not portend a peak season this year with analysts pointing to poor economic conditions exerting strong downward pressure on consumers in the US and Europe.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Carriers News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/no-vacancy-signs-up-on-trans-pacific-as-e-commerce-demand-absorbs-air-cargo-capacity-5220543" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5220545_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">‘No vacancy’ signs up on trans-Pacific as e-commerce demand absorbs air cargo capacity</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">A month ago, no one was predicting a peak season for air cargo on the trans-Pacific, but finding space from China to the US has become difficult as e-commerce demand heats up.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</span></span><span 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Megan Kelley, vice president of enterprise applications at Crane Worldwide Logistics, one of the companies that’s been trialing the integration, said in a statement Thursday. \u003c/p\u003e\u003cp\u003eWebCargo has become a dominant player in the airfreight technology space, predominantly by enabling forwarders and air cargo airlines to connect with one another digitally to transmit rates and bookings. \u003c/p\u003e\u003cp\u003ee2open is a widely used supply chain software provider that has acquired a number of TMS solutions over the past five years serving different modes, including air. The company has an internal ocean freight booking capability through its 2018 acquisition of INTTRA. The software provider is very partner-friendly, adding integrations to visibility providers, freight brokers, freight procurement tools and payment systems to support its planning and execution tools. \u003c/p\u003e\u003cp\u003eFreightos CEO Zvi Schreiber said in the statement that Freightos’ goal is to “deliver better cargo pricing and booking to our global forwarders wherever they work, whether it's through our [application programming interfaces] for their own systems, with integrations to third-party solutions, or on our platform.” \u003c/p\u003e\u003cp\u003eFreightos’ customers include shippers Electrolux and ABB, forwarders FedEx, UPS and Scan Global Logistics, as well as carriers American Airlines Cargo, Qatar Airways Cargo and Emirates SkyCargo. \u003c/p\u003e\u003cp\u003ee2open’s customers include shippers L’Oreal and Leggett \u0026amp; Platt and forwarders such as Geodis and Leschaco. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Eric Johnson at \u003c/i\u003e\u003ca href=\"mailto:eric.johnson@spglobal.com\"\u003e\u003ci\u003eeric.johnson@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":false,"FeatureImageCopyright":"Crane Worldwide Logistics, a pilot customer of the Freightos-e2open airfreight integration, said the move will cut down on manual data entry related to bookings. 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Shanghai-North Europe rates hit $4.85/kg, up 9% on the week and a year-over-year increase of 18%. \u003c/p\u003e\u003cp\u003e“Alongside e-commerce growth, the launch of new electronic goods and products has driven prices upward,” Kathy Liu, vice president of global sales and marketing at Taiwan-based forwarder Dimerco Express Group, said in a market update this week. \u003c/p\u003e\u003cp\u003e”The traditional peak season began in mid-October, immediately following China’s Golden Week holiday,” she added. “November is anticipated to be the peak month of 2024, particularly for shipments destined for the US and Europe.” \u003c/p\u003e\u003cp\u003eLiu noted that air freight capacity within intra-Asia routes was extremely limited as airlines allocated a greater portion of first-leg allotments to long-haul shipments that carried higher revenue potential. \u003c/p\u003e\u003cp\u003eAir cargo on the main Asian routes to North America and Europe has effectively been in peak season mode all year with the volume dominated by China’s e-commerce exports. Global air cargo recorded double-digit year-over-year demand growth in all 10 months through October and is on track to finish the year up approximately 14% year over year, according to rate benchmarking platform Xeneta. \u003c/p\u003e\u003cp\u003e“This puts air cargo demand safely on course to report double-digit growth in 2024, and not even zero growth in November or December is going to disrupt this,” Niall van de Wouw, Xeneta’s chief air cargo officer, wrote in a market update this week. \u003c/p\u003e\u003ch3\u003eRegulatory clampdown on ‘de minimis’ goods \u003c/h3\u003e\u003cp\u003eWhile the year will end on a high for the air freight industry, there is growing pressure on regulators in the US to clamp down on Chinese imports and reduce the generous $800 “de minimis” value threshold under which goods do not have to pay a duty. \u003c/p\u003e\u003cp\u003eThe e-commerce platforms in the past 18 months have factored this into their business models that almost exclusively use air cargo for shipments to the US, but the regulatory pressure is likely to be turned up under the new Trump administration. \u003c/p\u003e\u003cp\u003e“The Biden administration proposed excluding large swaths of Chinese imports from de minimis eligibility,” Judah Levine, head of research at freight marketplace Freightos, said in a report this week. “If Trump moves forward with something similar, it could be a major challenge to the surge of Chinese goods arriving by air via platforms like Shein and Temu.” \u003c/p\u003e\u003cp\u003eIf there is a clampdown, it will not only be the Chinese e-commerce platforms that come into the regulatory crosshairs. A report from stock market data provider AltIndex released Wednesday shows that most products sold by Amazon are made in China. \u003c/p\u003e\u003cp\u003e”Statistics show that 71% of the products that wholesalers and retailers sell on Amazon are produced in China, or 2.4 times more than in the United States, illustrating China’s importance for Amazon’s business,” AltIndex said. \u003c/p\u003e\u003cp\u003eAmazon has a 40% share of total e-commerce sales in its home US market, with products made in the US accounting for 30% of the company’s total goods sold and India third at 14%, according to industry data. \u003c/p\u003e\u003cp\u003eOn the trans-Atlantic, Europe to North America saw a month-over-month volume increase of 11% in October, according to Xeneta. Backhaul volume rose 10% sequentially in October as shippers and forwarders took precautionary measures to lessen the impact of the \u003ca href=\"https://www.joc.com/article/ripple-effects-playing-out-globally-from-ila-strike-analyst-5751171\"\u003ethree-day strike by dockworkers\u003c/a\u003e at US East Coast and Gulf Coast ports. \u003c/p\u003e\u003cp\u003eAir cargo rates from North Europe to North America have remained elevated all year and are currently at $1.84/kg, unchanged from the same week last year, according to the BAI. Xeneta expects the rise in trans-Atlantic air freight rates to continue with airlines’ winter schedules, leading to reduced cargo capacity from the end of October. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Air cargo on the main Asian routes to North America and Europe has effectively been in peak season mode all year. Photo credit: supakitswn / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1730920703913","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"16","Name":"Transport, Trade and Regulation News","Redirects":[{"Path":"/supply-chain/transport-trade-and-regulation-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1730912174000","TitlePlainText":"Air cargo peak season elevates as Chinese export rates hit 2024 high","Published":true,"Redirects":[{"Path":"/article/air-cargo-peak-season-elevates-as-chinese-export-rates-hit-2024-high-5787362","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eVolume and rates on the Asian export corridors to the US and Europe have been high all year and online shopping promotions in November are further stoking the market.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Volume and rates on the Asian export corridors to the US and Europe have been high all year and online shopping promotions in November are further stoking the market.","__typename":"Document"},{"Id":"5778528_JournalOfCommerce","Attachments":[{"FileName":"5783729_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eAir cargo rates and tonnage from Asia to Europe picked up sharply in October as rising demand for e-commerce shook off the slow buildup to peak season that typically follows China’s Golden Week holidays. \u003c/p\u003e\u003cp\u003eBut the recent rise in volume to Europe contrasts sharply with China-to-US tonnage that in the second half of 2024 has fallen far below year-over-year levels following greater scrutiny by US authorities on imports using the so-called “de minimis” exemption from duties. \u003c/p\u003e\u003cp\u003e“That decline appears to have been triggered by tighter Customs rules and checks since July on inbound US air cargo traffic from China, especially at Los Angeles airport,” Netherlands-based air freight analyst WorldACD said in a market update Friday. Data shows China-Los Angeles tonnage for the week ended Oct. 20 (week 42) was down 37% year over year. \u003c/p\u003e\u003cp\u003eA significant proportion of e-commerce shipments are routed through Hong Kong, and with global online shopping promotions such as China’s Singles Day, Black Friday and Cyber Monday just around the corner in November, as well as several new smart phone launches, rates and demand have begun to rise, significantly so on the China-Europe trade lane. \u003c/p\u003e\u003cp\u003e“The consistent strengthening of the Hong Kong-to-Europe market in the last six weeks, despite the normally dampening effects of China’s Golden Week holiday period at the start of October, is one of the earliest and only indicators of a potential significant fourth quarter air cargo peak season emerging this year,” WorldACD said. \u003c/p\u003e\u003cp\u003eAverage spot rates from Hong Kong to Europe in the last seven weeks rose above the $5 per kilogram level, to $5.15/kg for the week ended Oct. 20, with China-to-Europe spot rates at $4.29/kg. Both trade lanes are 13% above last year’s levels. \u003c/p\u003e\u003cp\u003eTonnage from Hong Kong to Europe in week 42 was up 25% on the already strong levels in the same week last year, with tonnage through the first three weeks of October up 12% sequentially compared to the average weekly volume moved in September. \u003c/p\u003e\u003cp\u003eThe Baltic Air Index (BAI) assessed average spot rates from Shanghai to North Europe this week at $4.52/kg, the highest rate level on the trade lane this year and up 19% on the same week in 2023. \u003c/p\u003e\u003cp\u003eBogen Chi, director of air freight at C.H. Robinson, said elevated air freight demand has continued for three quarters and shows no signs of slowing as the end of year approaches. \u003c/p\u003e\u003cp\u003e“Booming demand for e-commerce from Asia, air diversions from disruptions in the Red Sea and shippers using air to mitigate the effects of the US East and Gulf coast port strike have all contributed to the usual peak season,” Chi said in a customer advisory this week. \u003c/p\u003e\u003cp\u003e\u003cb\u003eDecline in China-US tonnage\u003c/b\u003e \u003c/p\u003e\u003cp\u003eAlthough Asia-to-US air cargo demand has risen steadily since the Golden Week holidays, China-US tonnage alone was down 18% year over year last week, part of a wider pattern of a decline in tonnage on the trans-Pacific in the second half that WorldACD believes was triggered by growing US scrutiny on e-commerce imports. \u003c/p\u003e\u003cp\u003eThe White House in July proposed a rule that would \u003ca href=\"https://www.joc.com/article/white-house-takes-aim-at-growing-threat-of-de-minimis-imports-5727350\"\u003eapply section 301 tariffs to de minimis shipments\u003c/a\u003e, a part of US trade law that allows single shipments valued at less than $800 to move duty-free and with fewer data submission requirements. Currently, section 301 tariffs cover approximately 40% of US imports from China, including 70% of Chinese textile and apparel imports. \u003c/p\u003e\u003cp\u003eAlthough the $800 threshold has not yet been lowered, Chi warned air freight importers this week to keep regulatory and compliance issues on their radar. \u003c/p\u003e\u003cp\u003e“With the upcoming US election and new security measures anticipated across Europe, more regulatory shifts are likely on the horizon in 2025 and could have an impact on capacity,” he said. \u003c/p\u003e\u003cp\u003e“For example, should the de minimis threshold be lowered, air capacity would likely open as most of the e-commerce freight using air now would be at risk of being held at the border,” Chi added. \u003c/p\u003e\u003cp\u003eShould capacity be released into the market, it would ease the limited space and lower rates from currently elevated levels, leaving shippers with fixed-rate agreements or chartered-in capacity stuck on prices above the prevailing market. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Tonnage from Hong Kong to Europe last week was up 25% on the already strong levels in the same week last year. Photo credit: Sportcarhub / Shutterstock.com","__typename":"Metadata"},"ModDate":"1730460194093","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"16","Name":"Transport, Trade and Regulation News","Redirects":[{"Path":"/supply-chain/transport-trade-and-regulation-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1729870465000","TitlePlainText":"Asia-Europe air cargo demand jumps while ‘de minimis’ scrutiny hampers trans-Pac","Published":true,"Redirects":[{"Path":"/article/asia-europe-air-cargo-demand-jumps-while-de-minimis-scrutiny-hampers-trans-pac-5778528","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe recent rise in volume to Europe contrasts sharply with China-to-US tonnage that in the second half has fallen far below year-over-year levels following greater scrutiny by US authorities on e-commerce imports.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The recent rise in volume to Europe contrasts sharply with China-to-US tonnage that in the second half has fallen far below year-over-year levels following greater scrutiny by US authorities on e-commerce imports.","__typename":"Document"},{"Id":"5778478_JournalOfCommerce","Attachments":[{"FileName":"5778363_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe scale generated by a combined DB Schenker-DSV entity will be accompanied by an expanding portfolio of services from which to generate greater earnings, according to DSV CEO Jens Lund. \u003c/p\u003e\u003cp\u003e“If we look at our commercial approach, it is a misconception that we want to grow the share of wallet with our customers by sacrificing our yield,” Lund told investors during the company’s third-quarter earnings call this week. \u003c/p\u003e\u003cp\u003eThe value of a DB Schenker acquisition — a deal \u003ca href=\"https://www.joc.com/article/dsv-takeover-signals-end-to-150-years-of-db-schenker-brand-5730873\"\u003esealed by DSV for €14.3 billion ($15.9 billion)\u003c/a\u003e in September — was \u003ca href=\"https://www.joc.com/article/db-schenker-customers-spooked-by-dsv-takeover-welcome-at-dhl-ceo-5733653\"\u003ecalled into question by several other parties\u003c/a\u003e. Kuehne + Nagel, DHL Global Forwarding and Maersk withdrew their own interest in Schenker, primarily citing the integration challenges involved. \u003c/p\u003e\u003cp\u003eBut Lund had no such concerns and was confident the takeover of DB Schenker, which will be finalized in the second quarter of next year, will be a significant boost to earnings for the world’s soon-to-be largest forwarder. \u003c/p\u003e\u003cp\u003eWhile he acknowledged the combined business of DSV and DB Schenker might result in some customers being uncomfortable with the larger entity handling too great a share of their business, Lund did not believe that would be an issue. \u003c/p\u003e\u003cp\u003e“We do want to grow the share of wallet with our customers as we increase the pipeline, and we will get into a position where we are relevant for more business with our customers,” he told analysts. \u003c/p\u003e\u003cp\u003e”What we focus on is creating more gross profit,” Lund added. “When we get Schenker in, it will support our commercial approach because our service catalogue will be stronger, so we will be able to produce even more services for our customers.” \u003c/p\u003e\u003cp\u003eDespite combining two of the world’s largest forwarders, the joint business will have just a 7% share of the highly fragmented global forwarding market. In terms of global ocean volume, Kuehne + Nagel remains at the top with 4.34 million TEUs annually against 4.30 million TEUs for the combined DSV-DB Schenker, with DHL Global Forwarding third at 3 million TEUs. \u003c/p\u003e\u003cp\u003eDSV-DB Schenker is clearly ahead in air freight volume, handling a combined 2.45 million tons in 2023 against 1.90 million tons for Kuehne + Nagel and 1.67 million tons for DHL Global Forwarding. \u003c/p\u003e\u003ch3\u003e‘No major regulatory obstacles ahead \u003c/h3\u003e\u003cp\u003eDSV has already obtained most of the regulatory approvals required globally for the Schenker takeover. Lund said he did not see “any major obstacles” in securing the remaining approvals, including from Chinese authorities. \u003c/p\u003e\u003cp\u003eAttention has now tuned to how DSV will pay for the acquisition. “We launched a capital increase to partly finance the transactions that we will have to pay as soon as we have done all the regulatory approvals, which we are working on right now,” Lund said. “We started that the day we announced the acquisition.” \u003c/p\u003e\u003cp\u003eThe forwarder raised €5 billion in equity from long-term investors following a share sale after the deal was \u003ca href=\"https://www.joc.com/article/union-government-hurdles-ahead-in-dsvs-16-billion-takeover-of-db-schenker-5727281\"\u003eapproved by DB Schenker parent Deutsche Bahn\u003c/a\u003e on Sept. 13. CFO Michael Ebbe told analysts the remaining amount — which, after interest, could top €10 billion — will be collected through bonds and loans, likely before the end of the year. \u003c/p\u003e\u003cp\u003eAs the acquisition process unfolds, integration planning has begun. DSV is preparing as much as possible before the closing, including system integration and consolidation of physical infrastructure. \u003c/p\u003e\u003cp\u003e“We are preparing as much as we can with the Schenker team before we close the transaction, but it cannot be something that involves customers or vendors and is more structural,” Lund noted. \u003c/p\u003e\u003cp\u003eDB Schenker will be incorporated into the DSV brand, a path followed by the three major acquisitions DSV has made over the past decade \u003ca href=\"https://www.joc.com/article/dsv-buys-uti-for-135-billion-5205537\"\u003e— acquiring UTi in 2015\u003c/a\u003e for $1.35 billion, \u003ca href=\"https://www.joc.com/article/newly-combined-dsv-panalpina-targets-trans-pacific-trade-5226703\"\u003ePanalpina in 2019\u003c/a\u003e for $4.6 billion and \u003ca href=\"https://www.joc.com/article/size-equals-value-in-fragmented-market-dsvs-andersen-5248808\"\u003eAgility’s Global Integrated Logistics in 2021\u003c/a\u003e for $4.2 billion. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The integration of DB Schenker into DSV is expected to be finalized in the second quarter of next year. Photo credit: Trygve Finkelsen / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1729871839703","Taxonomy":{"MainCategory":[{"Id":"4","Name":"Supply chain","Redirects":[{"Path":"/supply-chain","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1729865960000","TitlePlainText":"Value of Schenker takeover will manifest in expanding services: DSV CEO","Published":true,"Redirects":[{"Path":"/article/value-of-schenker-takeover-will-manifest-in-expanding-services-dsv-ceo-5778478","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eJens Lund this week emphasized the earnings potential of the takeover, pointing to greater scale and a wider portfolio of services that would increase the combined entity’s reach.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Jens Lund this week emphasized the earnings potential of the takeover, pointing to greater scale and a wider portfolio of services that would increase the combined entity’s reach.","__typename":"Document"},{"Id":"5772669_JournalOfCommerce","Attachments":[{"FileName":"5772678_0.1.JPG","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eDSV and Kuehne + Nagel on Wednesday reported strong revenue growth in the third quarter, but the solid results could not mask a difficult operating environment with the margins at both forwarders under pressure. \u003c/p\u003e\u003cp\u003eRising competition and tough negotiations with customers are believed to be behind the narrowing profit margins that were plainly displayed in the financial results of the two forwarders. \u003c/p\u003e\u003cp\u003eDespite DSV’s third-quarter revenue soaring 25% year over year to $6.37 billion, gross profit rose 4.8% to $1.6 billion while earnings before interest and taxes (EBIT) were up just 1.5% at $638 million. \u003c/p\u003e\u003cp\u003eStill, DSV CEO Jens Lund described the third-quarter performance as “coming out of the market trough” with no sign of the seasonal drop in demand during the period. \u003c/p\u003e\u003cp\u003e“Our quarterly gross profit and EBIT before special items have increased on a year-over-year basis for the first time since Q3 2022, driven by positive volume growth across all divisions and higher gross profit,” Lund said during a call with analysts. \u003c/p\u003e\u003cp\u003eDSV’s ocean freight volume in the third quarter was up 8% year over year at 704,000 TEUs, with gross profit in the segment up 10% at $500 million. Air freight volume also rose 8% to 352,000 metric tons, with gross profit in the segment flat at $435 million. Net profit at the Denmark-based carrier of $411 million was roughly the same as Q3 last year. \u003c/p\u003e\u003cp\u003eWhile DSV’s financial performance continued to improve in the third quarter compared with the first half, and the significantly higher revenue contributed to higher absolute earnings, it also came with lower margins that could be seen in the nine-month figures. \u003c/p\u003e\u003cp\u003eRevenue of $18 billion from January to September was up 9.2% year over year, but it generated gross profit that was down 2.7% at $4.6 billion and EBIT that fell 11% to $1.7 billion. \u003c/p\u003e\u003cp\u003eLooking ahead, Lund was not expecting a strong fourth quarter. “The market will be subdued and if we look at the global economy, I don’t see areas in the traditional markets where we will see significant growth,” he said. \u003c/p\u003e\u003cp\u003eDSV executives are heavily occupied by the €14.3 billion ($15.9 billion) \u003ca href=\"https://www.joc.com/article/dsv-takeover-signals-end-to-150-years-of-db-schenker-brand-5730873\"\u003eacquisition of DB Schenker\u003c/a\u003e, a deal that CFO Michael Ebbe said would be financed through shares, bonds and bank debt. The forwarder has already raised €5 billion in equity from long-term investors, with the rest to be collected through bonds and loans, Ebbe told investors. The takeover is expected to be finalized in the first half of next year. \u003c/p\u003e\u003ch3\u003eFrontloading drives up Q3 volume \u003c/h3\u003e\u003cp\u003eThe third quarter and nine-month results of rival global forwarder Kuehne + Nagel followed the same pattern as DSV, with a rise in volume and big jump in revenue not converting into high profits. \u003c/p\u003e\u003cp\u003e“Frontloading of cargo demand persisted through the middle of Q3, sparked by the rerouting away from the Red Sea, potential fallout from the port labor crisis in the US and geopolitical uncertainties,” Kuehne + Nagel CEO Stefan Paul told analysts on the forwarder’s Q3 earnings call Wednesday. \u003c/p\u003e\u003cp\u003eWhile revenue increased 19% in the third quarter to $7.5 billion, gross profit was up 5% at $2.5 billion and EBIT was just 2% higher at $524 million. \u003c/p\u003e\u003cp\u003eA total of 1.1 million TEUs was handled by the Geneva-based forwarder in the third quarter, down 2% year over year. Revenue in the ocean segment was up 36% at $3 billion with gross profit rising 2% to $632 million and EBIT up 9% at $295 million. \u003c/p\u003e\u003cp\u003eAir freight tonnage for the period rose 6.6% year over year to 526,000 metric tons, with revenue up 20% at $2 billion and gross profit of $500 million up 6%. But EBIT tumbled 12% to $138 million. \u003c/p\u003e\u003cp\u003eLike DSV, the full nine-month figures illustrated the severe margin pressure facing Kuehne + Nagel. Ocean freight revenue of $7.7 billion from January to September was a 2% decline year over year, and that was accompanied by a 15% drop in gross profit to $1.8 billion and a 25% decline in EBIT to $753 million. In air cargo, revenue rose 4% to $6 billion, but gross profit fell 7% to $1.4 billion, and EBIT dropped 23% to $380 million. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Air freight handled by DSV rose 8% to 352,000 metric tons in the third quarter. Photo credit: DSV.","__typename":"Metadata"},"ModDate":"1729708515190","Taxonomy":{"MainCategory":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1729702753000","TitlePlainText":"DSV, K+N post solid Q3 revenue gains, but profit margins under pressure","Published":true,"Redirects":[{"Path":"/article/dsv-kn-post-solid-q3-revenue-gains-but-profit-margins-under-pressure-5772669","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eRising competition and tough negotiations with customers are believed to be behind the narrowing profit margins that were plainly displayed in the financial results of the two forwarders.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Rising competition and tough negotiations with customers are believed to be behind the narrowing profit margins that were plainly displayed in the financial results of the two forwarders.","__typename":"Document"}],"secondSection":[{"Id":"5751658_JournalOfCommerce","Attachments":[{"FileName":"5751653_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eAMSTERDAM — Air cargo shippers on the trans-Pacific and Asia-Europe trades are far better prepared for the end-of-year peak after almost 12 months of high demand and tight capacity out of China, according to forwarders and air freight executives. \u003c/p\u003e\u003cp\u003eWith e-commerce shipments filling much of the available air freight capacity out of Chinese airport hubs, shippers of traditional air freight have spent the year working out the most effective fixed-rate deals or block space agreements (BSAs) to lock in the required capacity. Shippers have also adjusted inventory levels to cover any shortfalls should space become a problem in the traditional fourth-quarter peak season for air freight. \u003c/p\u003e\u003cp\u003e“Space will be tight out of China, but we have been working with our long-term forwarding partners to ensure we have the space we need and when we need it,” Mark Fullarton, director of global transportation at Zebra Technologies, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “We have plans in place to mitigate any shortages, so right now there are no alarm bells.” \u003c/p\u003e\u003cp\u003eJeffrey van Haeften, senior vice president of cargo commercial worldwide for Dubai-based Emirates Skycargo, said BSAs ensured there was capacity available for the airline to serve its forwarder market. \u003c/p\u003e\u003cp\u003e“Around 50% of our volume is e-commerce but we have BSAs set for a year that enable us to provide space for our loyal forwarding base,” van Haeften said. \u003c/p\u003e\u003cp\u003eEmirates has 36 freighters a week leaving Hong Kong for Dubai, with the cargo fed to Hong Kong from Shanghai and Guangzhou. \u003c/p\u003e\u003cp\u003eAir cargo has been stuck in peak season mode since the end of the first quarter as heavy and ongoing demand for e-commerce in the US and Europe has filled both freighters and the belly space on passenger airlines leaving Asia. \u003c/p\u003e\u003ch3\u003eShortage of belly space \u003c/h3\u003e\u003cp\u003eConor Brannigan, vice president of strategy at Atlas Air, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e that below-deck belly space available out of Hong Kong — the world’s busiest cargo airport — was nowhere near back to pre-pandemic levels. \u003c/p\u003e\u003cp\u003e“Belly capacity out of Hong Kong is down by 4,000 tons per week compared to 2019 levels,” he said, adding that the missing capacity was enough to fill 400 747 freighter aircraft. \u003c/p\u003e\u003cp\u003eAtlas Air has a fleet of 120 freighter aircraft, 70 of which are widebodies used on long haul routes. But, Brannigan said, “believe it or not, that is not enough.” \u003c/p\u003e\u003cp\u003eNiall van de Wouw, chief air freight officer at rate benchmarking platform Xeneta, said he was not picking up signals that space will be severely short out of Asia-Pacific during the end-of-year peak season. \u003c/p\u003e\u003cp\u003e“I don’t hear that when I talk to the airlines,” he said. “It will be very busy, and demand will be high, but it will not be the peak of all peaks. And I think that is because cargo owners and forwarders are far better prepared than they were last year.” \u003c/p\u003e\u003cp\u003eData from air freight analyst WorldACD for September shows tonnage from China to the US was down 8% year over year. Tonnage to Europe from Hong Kong, where e-commerce makes up a significant proportion of traffic, has remained highly elevated and by the beginning of October was up 26% year over year. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Atlas Air has a fleet of 120 freighter aircraft, 70 of which are widebodies used on long-haul routes. Photo credit: Atlas Air.","__typename":"Metadata"},"ModDate":"1729261994930","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1729260255000","TitlePlainText":"Savvy air cargo shippers use strategic rate, space deals to offset capacity constraints","Published":true,"Redirects":[{"Path":"/article/savvy-air-cargo-shippers-use-strategic-rate-space-deals-to-offset-capacity-constraints-5751658","__typename":"Redirect"},{"Path":"/article/savvy-air-cargo-shippers-use-strategic-rate-space-deals-to-offset-asian-capacity-constraints-5751658","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eA year of disruption has been on-the-job training for air freight shippers that are now battle-hardened and prepared for a tough end-of-year peak season.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"A year of disruption has been on-the-job training for air freight shippers that are now battle-hardened and prepared for a tough end-of-year peak season.","__typename":"Document"},{"Id":"5740954_JournalOfCommerce","Attachments":[{"FileName":"5740946_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eForwarder DSV’s acquisition of rival DB Schenker to create the world’s largest logistics company took a further step forward Wednesday after receiving the green light from both the German federal government and Deutsche Bahn’s (DB’s) supervisory board. \u003c/p\u003e\u003cp\u003eThe latter approval came despite opposition from the two members of EVG, Germany’s top rail and transport union, that sit on DB’s supervisory board. \u003c/p\u003e\u003cp\u003eThe deal is still dependent on regulatory approvals, a process that is expected to be completed by the second quarter of 2025, according to a DSV statement Wednesday welcoming the DB board decision. \u003c/p\u003e\u003cp\u003e“We are very pleased that Deutsche Bahn has confirmed that their two conditions for approving the sale of Schenker to DSV have been obtained,” DSV CEO Jens Lund said in the statement. “This means that we can continue our efforts to be ready for closing this transformational transaction according to the agreed plans.” \u003c/p\u003e\u003cp\u003eThe sale has an enterprise value of €14.3 billion ($15.8 billion), but expected interest income due until the deal is closed could boost the value to $16.4 billion, DB said in a separate statement Wednesday. \u003c/p\u003e\u003ch3\u003e‘Outvoted by owners’ \u003c/h3\u003e\u003cp\u003eThe sale was approved by a majority of DB’s 20-member supervisory board, but two — Deputy Board Chairman Martin Burkert and Cosima Ingenschay — voted against the sale. Burkert is chairman of EVG in addition to his role on DB’s supervisory board, while Ingenschay is deputy head of EVG. \u003c/p\u003e\u003cp\u003eDuring the vote meeting, Burkert called the sale “a serious strategic mistake,” adding that EVG “again presented our fundamental arguments against the sale of Schenker and made clear the advantage of retaining Schenker in the rail system.” \u003c/p\u003e\u003cp\u003e“Unfortunately, we as the employee side were outvoted by owners and employers,” he added. \u003c/p\u003e\u003cp\u003eBurkert said the union is now demanding commitments from DB on how the company will use the proceeds from the DB Schenker sale, including cutting debt and investing in new vehicles and services. \u003c/p\u003e\u003cp\u003eDB declined to comment further on the sale and the union’s opposition to the deal when contacted by the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003eApproval of the sale came nearly three weeks after DB’s management board \u003ca href=\"https://www.joc.com/article/dsv-takeover-signals-end-to-150-years-of-db-schenker-brand-5730873\"\u003esigned an agreement with DSV\u003c/a\u003e to dispose of its logistics subsidiary in preference to a rival bid by private equity outfit CVC Capital Partners. CVC made several attempts to increase its bid after the deadline, but DB dismissed these as “inferior” to DSV’s offer. DB launched its sale process for DB Schenker last December. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Keith Wallis at \u003c/i\u003e\u003ca href=\"mailto:keithwallis@hotmail.com\"\u003e\u003ci\u003ekeithwallis@hotmail.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"DSV expects to receive regulatory approvals for its purchase of DB Schenker by the second quarter of 2025. Photo credit: Below the Sky / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1727890875900","Taxonomy":{"MainCategory":[{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Keith Wallis, Special Correspondent","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1727888174000","TitlePlainText":"Government, board approvals clear way for DSV-DB Schenker merger","Published":true,"Redirects":[{"Path":"/article/government-board-approvals-clear-way-for-dsv-db-schenker-merger-5740954","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eDeutsche Bahn’s supervisory board approved DSV’s $16 billion acquisition of rival forwarder DB Schenker despite opposition from union members on the board.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Deutsche Bahn’s supervisory board approved DSV’s $16 billion acquisition of rival forwarder DB Schenker despite opposition from union members on the board.","__typename":"Document"},{"Id":"5733653_JournalOfCommerce","Attachments":[{"FileName":"5733645_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eDHL Group CEO Tobias Meyer issued an invitation Tuesday for DB Schenker customers nervous about the imminent takeover by DSV to switch their forwarding business over to the integrator. \u003c/p\u003e\u003cp\u003e“We are open for business, and if customers want to give us a ring, please do so,” Meyer told a media briefing on DHL’s 2030 strategy. The company plans to outgrow the market across all its industrial divisions over the next five years. \u003c/p\u003e\u003cp\u003eDHL decided in March not to pursue an acquisition of DB Schenker, with Meyer stating he \u003ca href=\"https://www.joc.com/article/dhl-drops-pursuit-of-db-schenker-amid-questions-over-value-upside-5214786\"\u003edid not see the required upside\u003c/a\u003e to such a deal between two large companies in similar industries that would not have the value generation his company would want. Meyer reiterated that view in response to a question from the \u003ci\u003eJournal of\u003c/i\u003e \u003ci\u003eCommerce\u003c/i\u003e at Tuesday’s briefing. \u003c/p\u003e\u003cp\u003e“We respect our competitors — both DSV and Schenker — for their strength and their capabilities, but we have knowledge that integrations are not all that easy,” he said. “When you come to two companies that are of equal size, it is particularly challenging.” \u003c/p\u003e\u003cp\u003e\u003ca href=\"https://www.joc.com/article/union-government-hurdles-ahead-in-dsvs-16-billion-takeover-of-db-schenker-5727281\"\u003eDSV’s €14.3 billion ($15.9 billion) bid was accepted\u003c/a\u003e by DB Schenker parent Deutsche Bahn earlier this month after the German state-owned rail company turned down a revised bid from the only other bidder left in the race, private equity firm CVC Capital Partners. Proceeds from the deal will be used to reduce debt and allow Deutsche Bahn to focus on its core rail business, although DSV will still \u003ca href=\"https://www.joc.com/article/union-government-hurdles-ahead-in-dsvs-16-billion-takeover-of-db-schenker-5727281\"\u003eneed to clear regulatory hurdles\u003c/a\u003e before the \u003ca href=\"https://www.joc.com/article/dsv-takeover-signals-end-to-150-years-of-db-schenker-brand-5730873\"\u003eintegration of the DB Schenker brand\u003c/a\u003e can begin. \u003c/p\u003e\u003ch3\u003ePotential suitors backed away \u003c/h3\u003e\u003cp\u003eDeutsche Bahn began readying DB Schenker for sale in December 2022 \u003ca href=\"https://www.joc.com/article/deutsche-bahn-launches-long-awaited-sales-process-db-schenker-unit_20231219.html\"\u003ebut only called for bids in December of last year\u003c/a\u003e. While there was initial interest from industry heavyweights DHL, Kuehne + Nagel, DSV and Maersk Line, it did not last. \u003c/p\u003e\u003cp\u003eMaersk shared DHL’s concerns, also \u003ca href=\"https://www.joc.com/article/maersk-citing-integration-challenges-says-wont-pursue-db-schenker-acquisition-5192212\"\u003eciting “integration challenges”\u003c/a\u003e the carrier uncovered during an in-depth due diligence investigation of the Essen, Germany-based forwarder. Kuehne + Nagel withdrew its interest in March. \u003c/p\u003e\u003cp\u003eA key concern of the bidders was the size of a combined workforce; for DSV and DB Schenker, that will be close to 150,000 people around the world with a 50/50 split. Integrations of large companies in similar industries typically come with significant job cuts, and that issue featured prominently during takeover negotiations. \u003c/p\u003e\u003cp\u003eThe final two bidders for DB Schenker both pledged to limit redundancies to placate the German government and the unions. \u003c/p\u003e\u003cp\u003eAnother concern raised by industry analysts was the drain on DB Schenker’s post-pandemic record earnings that have been mostly siphoned off by its loss-making parent. That means DB Schenker has largely missed out on the drive for scale by rivals, keeping its hands in its pockets while its peers made \u003ca href=\"https://www.joc.com/article/maersk-signs-36-billion-deal-lf-logistics-unit_20211222.html\"\u003ea series of multibillion-dollar acquisitions\u003c/a\u003e in recent years. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"DHL Group plans to outgrow the market in all its industry sectors over the next five years. Photo credit: DHL.","__typename":"Metadata"},"ModDate":"1727188635463","Taxonomy":{"MainCategory":[{"Id":"4","Name":"Supply chain","Redirects":[{"Path":"/supply-chain","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"16","Name":"Transport, Trade and Regulation News","Redirects":[{"Path":"/supply-chain/transport-trade-and-regulation-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1727181734000","TitlePlainText":"DB Schenker customers spooked by DSV takeover welcome at DHL: CEO","Published":true,"Redirects":[{"Path":"/article/db-schenker-customers-spooked-by-dsv-takeover-welcome-at-dhl-ceo-5733653","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe integration of two large companies in similar industries is “particularly challenging,” according to Tobias Meyer, who withdrew DHL’s interest in DB Schenker earlier this year.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The integration of two large companies in similar industries is “particularly challenging,” according to Tobias Meyer, who withdrew DHL’s interest in DB Schenker earlier this year.","__typename":"Document"},{"Id":"5730873_JournalOfCommerce","Attachments":[{"FileName":"5730872_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe DB Schenker brand that two years ago celebrated its 150th anniversary will be absorbed by DSV, which last week acquired the Essen, Germany-based company for €14.3 billion ($15.9 billion). \u003c/p\u003e\u003cp\u003eWhile there are \u003ca href=\"https://www.joc.com/article/union-government-hurdles-ahead-in-dsvs-16-billion-takeover-of-db-schenker-5727281\"\u003estill regulatory hurdles to clear\u003c/a\u003e — and reports of rival bidder CVC Capital Partners urging DB Schenker to reconsider its intention to sell to the Denmark-based forwarder — a spokesperson for DSV told the \u003ci\u003eJournal of Commerce\u003c/i\u003e that “going forward, the combined company will continue under the DSV brand.” \u003c/p\u003e\u003cp\u003eThat’s a path followed by the three major acquisitions DSV has made over the past decade — \u003ca href=\"https://www.joc.com/article/dsv-buys-uti-for-135-billion-5205537\"\u003eacquiring UTi in 2015\u003c/a\u003e for $1.35 billion, \u003ca href=\"https://www.joc.com/article/newly-combined-dsv-panalpina-targets-trans-pacific-trade-5226703\"\u003ePanalpina in 2019\u003c/a\u003e for $4.6 billion and \u003ca href=\"https://www.joc.com/article/size-equals-value-in-fragmented-market-dsvs-andersen-5248808\"\u003eAgility’s Global Integrated Logistics (GIL) in 2021\u003c/a\u003e for $4.2 billion. \u003c/p\u003e\u003cp\u003eSchenker \u0026amp; Co. was founded in 1872 by Gottfried Schenker in Vienna and has developed into a global forwarder with approximately 75,000 employees. A combined DSV-DB Schenker entity will have close to 150,000 employees around the world with a 50/50 split. \u003c/p\u003e\u003cp\u003eThe size of the workforce featured prominently during takeover negotiations, with the final two bidders both pledging to limit redundancies. DSV included social commitments to DB Schenker jobs in the acquisition agreement as well as a pledge to invest €1 billion in Germany over the next three to five years, “which will contribute to ensuring long-term growth and job creation.” \u003c/p\u003e\u003cp\u003eDSV noted in its acquisition statement last week that Germany “will be a key market for DSV with a substantial impact on the future organization.” The forwarder said “various central functions” of DB Schenker would remain in Germany, including the Schenker head office in Essen. \u003c/p\u003e\u003cp\u003eMichael Clover, head of commercial development at consultancy Transport Intelligence (Ti), said DSV’s commitment to Germany in the final bidding stages appears to have been made to get the deal over the line with the federal government, while the jobs guarantee was aimed at placating German unions. \u003c/p\u003e\u003cp\u003e“The German logistics industry is obviously enormous, but with German manufacturing down at the moment logistics growth is struggling in the country,” Clover told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003e“Ti forecasts show that German freight forwarding will grow at a compound annual growth rate [CAGR] of 3.2% from 2023 to 2028, contract logistics at a CAGR of 1% and road freight at a 1.5%,” he added. “So, you could argue that the commitment to Germany for the next two years was all about securing the deal rather than about the growth opportunities in Germany.” \u003c/p\u003e\u003cp\u003eGermany’s United Services Union, known as ver.di, had a wait-and-see attitude when contacted by the \u003ci\u003eJournal of Commerce\u003c/i\u003e after the deal was signed last week. “For us, it is essential that as many jobs as possible are retained at the end of the sales process,” a union spokesperson said. \u003c/p\u003e\u003ch3\u003eWorld’s largest forwarder \u003c/h3\u003e\u003cp\u003eIn global revenue terms, a combined DSV-DB Schenker will be the world’s largest forwarder with revenue of $39.3 billion based on 2023 results, according to DSV. Figures by market research firm Armstrong \u0026amp; Associates put DHL Global Forwarding in second place globally at $33.8 billion and Kuehne + Nagel third with $31.6 billion. \u003c/p\u003e\u003cp\u003eIn terms of global ocean volume, Kuehne + Nagel remains at the top with 4.34 million TEUs against DSV-DB Schenker’s 4.30 million TEUs, with DHL Global Forwarding third at 3 million TEUs. \u003c/p\u003e\u003cp\u003eDSV-DB Schenker is clearly ahead in air freight volume, handling a combined 2.45 million tons in 2023 against Kuehne + Nagel’s 1.9 million tons and DHL Global Forwarding’s 1.67 million tons. \u003c/p\u003e\u003cp\u003eWhile the three Europe-based companies dominate the global forwarding market, it is a different picture on the trans-Pacific. Through the first eight months of this year, Kuehne + Nagel held the largest ocean market share of the three European forwarders, at 3.01% and 180,049 TEUs, but that was only good enough for fourth place, according to data from PIERS, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. California-based Kerry Apex led with a 5.21% share of the trans-Pacific market and volume of 312,195 TEUs. \u003c/p\u003e\u003cp\u003eAfter the first eight months of 2024, DSV was at 21st place on the trans-Pacific with 53,193 TEUs and 0.89% of the market. The latest available data for DB Schenker is for January to August 2023, when it handled just 6,167 TEUs. \u003c/p\u003e\u003cp\u003e“The combined entity will be a large player on the trans-Pacific, and this will be a benefit of the deal to help get DSV more exposure to this key trade lane, but not the driving rationale,” Clover noted. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"A combined DSV-DB Schenker entity will be the world’s largest forwarder. Photo credit: DSV.","__typename":"Metadata"},"ModDate":"1726771994613","Taxonomy":{"MainCategory":[{"Id":"4","Name":"Supply chain","Redirects":[{"Path":"/supply-chain","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1726768454000","TitlePlainText":"DSV takeover signals end to 150 years of DB Schenker brand","Published":true,"Redirects":[{"Path":"/article/dsv-takeover-signals-end-to-150-years-of-db-schenker-brand-5730873","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eWhile there are still regulatory hurdles to clear, a spokesperson for DSV told the \u003ci\u003eJournal of Commerce\u003c/i\u003e the combined company “will continue under the DSV brand” going forward.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"While there are still regulatory hurdles to clear, a spokesperson for DSV told the Journal of Commerce the combined company “will continue under the DSV brand” going forward.","__typename":"Document"},{"Id":"5730770_JournalOfCommerce","Attachments":[{"FileName":"5730898_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eA strike-driven surge in demand for air cargo capacity if ports along the US East and Gulf coasts are shut down from Oct. 1 would come at the worst possible time for an air freight sector that is preparing for a strong peak season with capacity already severely limited. \u003c/p\u003e\u003cp\u003eEight straight months of double-digit growth and a massive increase in trans-Pacific and Asia-Europe e-commerce volumes this year, mostly shipped from China by air, have kept rates elevated and encouraged airlines \u003ca href=\"https://www.joc.com/article/lure-of-robust-asian-peak-season-a-magnet-for-air-cargo-capacity-5728658\"\u003eto shift freighter capacity from other trades\u003c/a\u003e to the booming ex-Asia markets. \u003c/p\u003e\u003cp\u003eAngel Rodriguez, president of ASF Air, said a port strike in the US would quickly create a backlog in shipments of “artificial or unplanned air freight” that would typically have moved by ocean. \u003c/p\u003e\u003cp\u003e“Now consider this occurring during the busiest season for air freight with the increased demand for e-commerce, holiday season around the corner and new product launches such as smart phones, all fighting for the same capacity from similar markets,” Rodriguez told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003eAir freight rates out of China to the US and Europe have been elevated all year with e-commerce volume dominating shipments and longer ship voyages around southern Africa to avoid the Red Sea shifting urgent freight from ocean to the air. Load factors in August were at 87% on Asia-North America and 86% on both the Asia-Europe and Asia-Middle East routes, meaning they are effectively full. \u003c/p\u003e\u003cp\u003eAir freight rates are being pushed up by a wide supply-demand imbalance, with supply growth in August increasing 2% year over year while demand was up 11%, according to rate benchmarking platform Xeneta. Data from the Baltic Air Index (BAI) shows that rates for the week ending Sept. 16 from China to the US were up 30% year over year at $5.87 per kilogram and China to Europe up 28%, at $4.10/kg. \u003c/p\u003e\u003ch3\u003eScramble for space \u003c/h3\u003e\u003cp\u003eAirline executives estimate the top four Chinese e-commerce platforms use 150 freighters per day to move online orders to destination markets, most of that capacity contracted directly with airlines. That is leaving forwarders serving traditional air freight customers scrambling to find space in an ever-tightening market. \u003c/p\u003e\u003cp\u003eAlberto Mathia, regional head of air freight for the Americas at Hellmann Worldwide Logistics, said capacity was a growing issue and that air freight rates, especially from Asia, were already rising, regardless of a potential port strike in the US. \u003c/p\u003e\u003cp\u003e“Capacity will become even tighter as passenger flights may reduce after the summer schedule, creating additional challenges for already limited air capacity due to e-commerce from Asia and Red Sea diversions,” Mathia said. \u003c/p\u003e\u003cp\u003eRodriguez said shippers should already be discussing contingency plans with their service providers to identify solutions to keep production lines moving undisturbed. \u003c/p\u003e\u003cp\u003e“Many of our clients at ASF have already started looking at full and part charters to have a safety stock in the unfortunate event that a strike does indeed occur,” he said. \u003c/p\u003e\u003cp\u003eCharter rates are also rising sharply, however, with reports of a return freighter flight on the Europe-South America trade lane recently contracted for more than $1 million. \u003c/p\u003e\u003ch3\u003e‘Storm coming’ to China export markets \u003c/h3\u003e\u003cp\u003eNiall van de Wouw, chief air freight officer at Xeneta, said the air cargo industry was facing “an extremely challenging year-end peak season,” when volumes traditionally increase in the run up to Christmas and New Year. \u003c/p\u003e\u003cp\u003e“There is a storm coming to the outbound China air freight market,” he warned. “Shippers need to take action now and have a clear plan in place for when the storm hits, such as working with their vendor to minimize the use of spot market capacity, which will likely come at spiraling costs.” \u003c/p\u003e\u003cp\u003eWhile a port strike along the US East and Gulf coasts will impact air cargo exports from China, the trans-Atlantic air freight market could be hit hard, said Glyn Hughes, director general of The International Air Cargo Association (Tiaca). \u003c/p\u003e\u003cp\u003e“To satisfy the demand, much of which is driven by e-commerce, air cargo freighter operators have been repositioning freighters to serve these high demand-Asian markets,” Hughes told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “This has resulted in some trans-Atlantic freighter operations being stopped. \u003c/p\u003e\u003cp\u003e“If the...port strike goes ahead then some cargo will undoubtedly need to move by air, but capacity will be in short supply,” he added. “There will also be an expected reduction in passenger belly capacity as winter schedules may also see reduced services.” \u003c/p\u003e\u003cp\u003eHowever, the tight capacity will push up air cargo rates, and Hughes said this could lead to airlines moving freighters back to the trans-Atlantic market. \u003c/p\u003e\u003cp\u003e“But I think the capacity challenge will act as a form of volume restriction, and I wouldn’t expect to see cargo facilities [in the US] being overrun with air cargo volume,” he added. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The top four Chinese e-commerce platforms use an estimated 150 freighters per day to move online orders to destination markets. Photo credit: Matheus Obst / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1726775294870","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1726757597000","TitlePlainText":"Limited air freight capacity available for US port strike-driven cargo shift","Published":true,"Redirects":[{"Path":"/article/limited-air-freight-capacity-available-for-us-port-strike-driven-cargo-shift-5730770","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eEight straight months of double-digit volume growth and a massive increase in trans-Pacific and Asia-Europe e-commerce volumes, mostly shipped from China by air, has left air cargo capacity in short supply.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Eight straight months of double-digit volume growth and a massive increase in trans-Pacific and Asia-Europe e-commerce volumes, mostly shipped from China by air, has left air cargo capacity in short supply.","__typename":"Document"},{"Id":"5728658_JournalOfCommerce","Attachments":[{"FileName":"5728212_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eAir cargo operators are shifting freighter aircraft from South America, India and Africa to the more lucrative Asian export trades where sustained demand from the US and Europe for both e-commerce and traditional cargo is keeping planes full and rates elevated.\u003c/p\u003e\u003cp\u003eWith \u003ca href=\"https://www.joc.com/article/brace-for-impact-warning-as-air-cargo-heads-into-historic-peak-season-5725527\"\u003ean anticipated fourth-quarter peak season bonanza\u003c/a\u003e around the corner and a worsening supply-demand imbalance pushing up the spot market, airlines want as much capacity as possible to be deployed on the trans-Pacific and Asia-Europe trades. But the removal of air freight capacity is leaving exporters on the South America and Indian trade lanes scrambling for capacity, forwarders say.\u003c/p\u003e\u003cp\u003e“We see it on the South American and India trades,” Angel Rodriguez, president of Charleston-based ASF Air, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “Unfortunately, China-US and China-Europe outweigh any trade with South America regardless of route, so it’s somewhat of a no-brainer.”\u003c/p\u003e\u003cp\u003eAir freight rates from Shanghai to North America in the traditionally slow month of August were almost 30% higher compared with the same month last year, according to the Baltic Air Index (BAI).\u003c/p\u003e\u003cp\u003eHolding the rates at elevated levels are load factors that rate benchmarking platform Xeneta estimated were at 87% on Asia-North America flights in early September and at 86% on both Asia-Europe and Asia-Middle East flights, which is effectively full for head-haul routes.\u003c/p\u003e\u003cp\u003eDemand is expected to strengthen even further during November’s e-commerce shopping promotions such as Black Friday and Cyber Monday, which will follow the highly anticipated iPhone 16 launch later this month, with capacity already tightly constrained, said Rob Veltman, vice president of cargo in Europe for Qatar Airways.\u003c/p\u003e\u003cp\u003e“With the seasonal patterns and the way the market is being treated, conventional shippers like Apple or HP will struggle to find capacity because e-commerce is so demanding,” Veltman said at the EU Cross Border E-Commerce Forum in Liege, Belgium, last week. “The top four e-commerce players in China need around 150 freighters per day to move the cargo out.”\u003c/p\u003e\u003cp\u003eTom Owen, director of cargo at Cathay Pacific, said the Hong Kong-based carrier was adding five freighters per week to its Asia-North America network in the fourth quarter to try to cover the demand.\u003c/p\u003e\u003cp\u003e“We are a scheduled carrier so 40% of our freight goes on our widebodies [passenger planes] and that capacity doesn’t change, but for our freighters we move capacity around where it is needed,” Owen told the \u003ci\u003eJournal of Commerce\u003c/i\u003e.\u003c/p\u003e\u003cp\u003eJeffrey Van Haeften, senior vice president for Emirates SkyCargo, warned at the Liege forum that capacity was already in short supply and would tighten further through the rest of the year, even with the widespread repositioning of capacity.\u003c/p\u003e\u003cp\u003e“We are already full,” he said. “All the second legs into Europe [from Asia] serving 40 cities, some of them up to eight flights a day, are all full.”\u003c/p\u003e\u003cp\u003e\u003cb\u003e‘Ongoing volatility’\u003c/b\u003e\u003c/p\u003e\u003cp\u003eDHL Express has announced plans to deploy eight new Boeing 777 freighters on the trans-Pacific and routes between Asia and Europe as it moves to capture soaring demand for e-commerce and business to business (B2B) cargo. The express operator is expecting global e-commerce to increase 8.8% in 2024, with a strong peak season through the fourth quarter.\u003c/p\u003e\u003cp\u003e“With ongoing volatility in global freight markets and a continued strong flow of e-commerce volumes, we are expecting a healthy surge in demand for express services in the fourth quarter,” DHL Express CEO John Pearson said in a statement.\u003c/p\u003e\u003cp\u003eBritish cargo airline One Air this week added a third Boeing 747 freighter to its fleet to meet strong demand for traditional cargo from forwarders on Asia-Europe. It operates ad hoc charter flights on several routes across Europe, the Middle East and Asia, as well as seven flights a week from Hong Kong to Europe.\u003c/p\u003e\u003cp\u003eThe injection of capacity into Asia, mostly China, is making a long-standing problem even worse. While aircraft are full flying out of China to the US and Europe, the return flights are virtually empty, which places significant pricing pressure on the carriers.\u003c/p\u003e\u003cp\u003eAir cargo consultancy Rotate estimated the contribution of Boeing 777 freighter flights on several trade lanes and found the growing imbalance increased the profitability gap between the head-haul and back-haul flights.\u003c/p\u003e\u003cp\u003eOn the trans-Pacific, based on unit costs and revenue through the four weeks of August, cargo on China to US flights was carried at a profit of $3.07 per kilogram, while the return flight operated at a loss of $1.48 per kilogram.\u003c/p\u003e\u003cp\u003eThe route from Asia to Europe showed a profitability of $2.10 per kilogram and a return loss of $1.12 per kilogram, while the trans-Atlantic trade lane was unprofitable in both directions, Rotate found.\u003c/p\u003e\u003cp\u003e“The freighters are all flying full out of Asia and the rest of the world is not performing as well,” Owen said. “It is not something new, but because of the e-commerce growth over the last couple of years there is a lot more capacity flying out than before and the return flights have gotten more challenging.”\u003c/p\u003e\u003cp\u003eRodriguez said the trade imbalance was something forwarders have become accustomed to over the years but it did impact pricing negotiations with carriers as charter agreements were mostly settled on a round-trip basis. \u003c/p\u003e\u003cp\u003e“This is why pricing on freight on the trans-Pacific westbound US to China route amounts to only a fraction – approximately one quarter – of the cost for freight on the eastbound China to US route,” he told the \u003ci\u003eJournal of Commerce.\u003c/i\u003e “Essentially, those (forwarders with) charter agreements are simply looking for any possible contribution to help offset the overall cost.” \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Load factors on Asia-Europe and Asia-Middle East flights were at 86% in September, which is effectively full. Photo credit: Emirates SkyCargo.","__typename":"Metadata"},"ModDate":"1726597215087","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1726508662000","TitlePlainText":"Lure of robust Asian peak season a magnet for air cargo capacity","Published":true,"Redirects":[{"Path":"/article/lure-of-robust-asian-peak-season-a-magnet-for-air-cargo-capacity-5728658","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eSustained demand for air cargo on the trans-Pacific and Asia-Europe trades and the promise of rising rates through the end-of-year peak are encouraging airlines to pull capacity from less-lucrative lanes.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Sustained demand for air cargo on the trans-Pacific and Asia-Europe trades and the promise of rising rates through the end-of-year peak are encouraging airlines to pull capacity from less-lucrative lanes.","__typename":"Document"},{"Id":"5726546_JournalOfCommerce","Attachments":[{"FileName":"5726553_0.1.PNG","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eLiege, Belgium — Soaring demand for e-commerce out of Asia this year was a gift to an airline industry under severe financial pressure as it recovered from the pandemic, air cargo executives said at an industry forum here this week.\u003c/p\u003e\u003cp\u003eExecutives from Cathay Pacific, Qatar Cargo, Emirates SkyCargo and freighter operator Silk Way West attending the EU Cross-Border E-Commerce Forum at Liege Airport described the e-commerce demand as welcome as it was “unstoppable.”\u003c/p\u003e\u003cp\u003e“E-commerce for us has been a very pleasant surprise after what has been a difficult three or four years for both Hong Kong and the Cathay Pacific group when COVID hit us hard,” Tom Owen, head of cargo at Cathay Pacific, told the forum.\u003c/p\u003e\u003cp\u003e”The dominance and the strength of the e-commerce market going forward is something that we’re very excited about,” he added. “We are now carrying anywhere between 50% to 60% of e-commerce whereas before COVID it was around 20% to 30%.”\u003c/p\u003e\u003cp\u003eOwen said without the volume generated by e-commerce over the last two years, there would be fewer aircraft available as planes were parked or retired. “There’s an awful lot of capacity that’s still in the market that would have left,” he noted.\u003c/p\u003e\u003cp\u003eJeffrey Van Haeften, Emirates SkyCargo senior vice president, said e-commerce was “extremely important,” with most of the cargo coming from southern China comprised of online packages. He estimated that 20% of the carrier’s global volume was made up of e-commerce shipments.\u003c/p\u003e\u003cp\u003e“E-commerce is helping so much that if it did not exist, the whole industry would have an issue,” he told the forum. \u003c/p\u003e\u003cp\u003eRob Veltman, vice president of cargo at Qatar Airways, said there was no real growth in Chinese exports of traditional air cargo.\u003c/p\u003e\u003cp\u003e”It’s all e-commerce, and if it wasn’t there, we would all be in trouble,” Veltman said, adding that Qatar Airways has had to adapt its network to cover the market’s growing needs that are impossible to ignore.\u003c/p\u003e\u003cp\u003eWolfgang Meier, CEO of Baku-based freighter operator Silk Way West, said e-commerce has added a fourth dimension to the air freight industry.\u003c/p\u003e\u003cp\u003e“E-commerce is good because we have had the forwarders, the airlines, the integrators and now we have the e-commerce players,” Meier said. “It has changed the way business is conducted.”\u003c/p\u003e\u003ch3\u003eLow levels of exposure\u003c/h3\u003e\u003cp\u003eThe buoyant mood of airlines contrasted with that of global forwarders that have low levels of exposure to e-commerce shipments and are under pressure to find space for traditional customers competing for capacity with online orders from China on the trans-Pacific and Asia-Europe routes.\u003c/p\u003e\u003cp\u003eAir freight is heading for an imminent capacity crunch amid expectations that the peak season will be the strongest one yet, and forwarders are having to placate their more traditional customers.\u003c/p\u003e\u003cp\u003e“We have our regular bread and butter customers that are very concerned about this trend, and we need to know how we cater to the entire air freight industry that needs support,” Asok Kumar, head of global air freight at forwarder DB Schenker, told the forum.\u003c/p\u003e\u003cp\u003eCapacity is already in short supply and is set to tighten even further through the rest of the year, warned Van Haeften.\u003c/p\u003e\u003cp\u003e“We are already full,” he said. “All the second legs into Europe [from Asia] serving 40 cities, some of them up to eight flights a day, are all full.” \u003c/p\u003e\u003cp\u003eWhile air cargo executives at the forum also highlighted a “struggle” to serve their traditional markets and not devote all capacity to e-commerce cargo, they acknowledged it was difficult to differentiate between e-commerce and traditional air freight. \u003c/p\u003e\u003cp\u003e“It is hard to measure exactly what e-commerce is,” Owen said. That was echoed by Van Haeften, who said on Europe and Americas routes “we don’t always recognize what e-commerce is.”\u003c/p\u003e\u003cp\u003eVeltman said airlines had to balance their traditional customers against the demands of the new segment and adapt their networks to serve the changing cargo flows.\u003c/p\u003e\u003cp\u003e“You can’t just focus on e-commerce, but it would be stupid to ignore it,” he said. “From this month we have changed our schedules with a lot more capacity moved to China. The business is disrupting the market.” \u003c/p\u003e\u003cp\u003eA retired air cargo executive at the forum told the \u003ci\u003eJournal of Commerce\u003c/i\u003e it made little difference to carriers whether cargo was e-commerce or not, as long as it could fill their aircraft. However, there is pressure coming from the International Air Transport Association (IATA) to assign a special handling code for e-commerce that would aid safety and security checks as well as provide information to customs authorities at destination. That pressure is placing online shipments under greater scrutiny in the European Union and the US.\u003c/p\u003e\u003ch3\u003eRegulatory crackdown\u003c/h3\u003e\u003cp\u003eThe regulatory crackdown is regarded as a challenge to the unbridled growth of e-commerce, but it was mostly shrugged off by the airline executives who said the demand can withstand any legislative attempts in the US and European Union to clamp down on online orders arriving from China.\u003c/p\u003e\u003cp\u003e“I can’t see any sensible government taking an axe to e-commerce,” said Owen. “It is a force for good for the general population and people wanting to purchase affordable goods. This is now a way of buying that will continue.”\u003c/p\u003e\u003cp\u003eVan Haeften said he was expecting some kind of legislation to come down the pipeline, but he did not believe it would “change the curve.”\u003c/p\u003e\u003cp\u003e“It will at most hamper the growth a little but at the same time we also see the number of people that buy through e-commerce is growing, so at the end it is unstoppable,” he told the forum.\u003c/p\u003e\u003cp\u003eVeltman agreed. “Trade restrictions are never good for business and if the US imposes restrictions, you might see a reaction from China on goods imported from the US, and everyone is concerned,” he said.\u003c/p\u003e\u003cp\u003e“The de minimis level [currently at $800] could be lowered, but cargo will find a way via other gateways. People are very creative in getting cargo to where it needs to be,” he added. “This is here to stay and I don’t see legislation stopping it.”\u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Up to 60% of the cargo volume handled by Cathay Pacific out of its Hong Kong base is comprised of e-commerce shipments. Photo credit: Cathay Pacific.","__typename":"Metadata"},"ModDate":"1726168274140","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1726153574000","TitlePlainText":"Robust e-commerce demand a gift for air cargo carriers: airline executives","Published":true,"Redirects":[{"Path":"/article/robust-e-commerce-demand-a-gift-for-air-cargo-carriers-airline-executives-5726546","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eStill, the buoyant mood of carriers contrasts with global forwarders that have low levels of exposure to e-commerce shipments and are under pressure to find capacity for traditional customers. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Still, the buoyant mood of carriers contrasts with global forwarders that have low levels of exposure to e-commerce shipments and are under pressure to find capacity for traditional customers.","__typename":"Document"},{"Id":"5725527_JournalOfCommerce","Attachments":[{"FileName":"5725526_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eLiege, Belgium — The air cargo industry is flying headlong into its strongest ever peak season as booming e-commerce demand will combine with online shopping promotions this fall and rising volume of more traditional air freight, executives told a conference here. \u003c/p\u003e\u003cp\u003eBut at the same time, the industry was facing a worsening supply-demand imbalance that would place severe constraints on available capacity and add pricing pressure to already elevated rate levels. \u003c/p\u003e\u003cp\u003e“Brace for impact,” was the blunt warning to shippers and forwarders from Peter Scholten, CCO of freighter operator Air One Aviation, at the EU Cross-Border E-Commerce Forum at Liege Airport in Belgium Tuesday. “We are heading for the highest peak seasons in history.” \u003c/p\u003e\u003cp\u003eThe global air cargo market has seen eight straight months of double-digit growth as of August, with a 14% increase in demand and only 7% capacity growth over that period, Ryan Keyrouse, CEO of market intelligence consultancy Rotate, told the forum. \u003c/p\u003e\u003cp\u003eWith volume this year expected to rise 11% to 12% year over year, he estimated volume would grow a further 2% to 7% in 2025, with the high demand taking the air freight industry deep into “unchartered territory.” \u003c/p\u003e\u003cp\u003e“If e-commerce growth continues aggressively, we are going to be in an unprecedented state,” Keyrouse said. “The highest two-year growth average we’ve had in recent decades.” \u003c/p\u003e\u003cp\u003eWhile the demand has enabled freighter operators to benefit from rising rate levels, the robust market growth is being constrained by a lack of capacity. \u003c/p\u003e\u003cp\u003eData reported by rate benchmarking platform Xeneta show load factors on Asia-North America flights are at 87%, with both Asia-Europe and Asia-Middle East flights at 86%, which is effectively full for headhaul routes. \u003c/p\u003e\u003cp\u003eAircraft are also flying at their peak utilization, with Rotate data for August showing global freighter fleets operating at up to 15 hours a day, just below pandemic flying times. Keyrouse said this meant any relief was “not going to come from load factors and it’s not going to come from fleet utilization.” \u003c/p\u003e\u003cp\u003eThe index of outbound routes from Hong Kong edged up a further 0.2% this week, led by higher rates to North America that took the year over year gain to 21.1%, according to the Baltic Air Index. Outbound Shanghai rates edged down 1.8% week over week, but the rate is up 30% compared with last year. \u003c/p\u003e\u003ch3\u003eForwarders protecting ‘bread and butter’ customers \u003c/h3\u003e\u003cp\u003eRichard Broekman, CCO and head of sustainability at freighter operator Atlas Air, said he did not believe shippers were prepared for the significant supply-demand imbalance that lay ahead. \u003c/p\u003e\u003cp\u003e“The peak is going to be very strong and driven by a real lack of capacity and a lot of delays of deliveries of new freighters that were supposed to be flying already but are just not there yet,” Broekman told the forum. \u003c/p\u003e\u003cp\u003eForwarders are already scrambling to lock in enough capacity for their customers through the fourth quarter, which is becoming increasingly difficult as e-commerce swallows up much of the available space out of Asia. \u003c/p\u003e\u003cp\u003eAsok Kumar, head of global air freight at forwarder DB Schenker, noted that as significant as the e-commerce volume is, it is not something that benefitted global forwarders and typically represented single-digit percentages of their annual tonnage. \u003c/p\u003e\u003cp\u003eKumar noted global e-commerce in 2022 was about 1.5 million tons of the total air freight market of 22 million tons. The estimate for 2025 is that e-commerce will be 5.2 million tons of a market that will be 27 million tons, showing that most of the growth is from e-commerce rather than the traditional air freight market. \u003c/p\u003e\u003cp\u003e“We have our regular bread and butter customers that are very concerned about this trend, and we need to know how we cater to the entire air freight industry that needs support,” Kumar told the forum. \u003c/p\u003e\u003cp\u003e“Normal demand in the market for the phones, the AI enabled devices, the technology, automotive movements, for example,” he added. “We have commitments to our existing customers that we need to protect, and we will do that.” \u003c/p\u003e\u003cp\u003eStefan Krikken, head of global air freight at DSV, said aside from during COVID-19, the market “has never been as constrained, as difficult as it is right now,” in his 15 years in the business. \u003c/p\u003e\u003cp\u003e”COVID was on a different level, but I think the peak that we’re heading into is going to be unprecedented,” he told the forum. \u003c/p\u003e\u003cp\u003e“Going into the peak season we will also have the e-commerce days — be it Black Friday or Singles Day,” Krikken said. “There are several of these events that will really drive the e-commerce boom.” \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The global air cargo market has seen eight straight months of double-digit growth. Photo credit: DesignRage / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1726068796547","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1726067294000","TitlePlainText":"‘Brace for impact’ warning as air cargo heads into historic peak season","Published":true,"Redirects":[{"Path":"/article/brace-for-impact-warning-as-air-cargo-heads-into-historic-peak-season-5725527","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eEight straight months of double-digit volume growth in global air freight markets has kept freighters full and flying at peak utilization, and continued demand is expected to outstrip available capacity through Q4 and beyond. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Eight straight months of double-digit volume growth in global air freight markets has kept freighters full and flying at peak utilization, and continued demand is expected to outstrip available capacity through Q4 and beyond.","__typename":"Document"},{"Id":"5717966_JournalOfCommerce","Attachments":[{"FileName":"5717873_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe temporary grounding of Cathay Pacific’s Airbus A350 fleet of 48 aircraft after an engine fault was found on Monday will disrupt the already overheated Hong Kong air freight export market, industry executives say.\u003c/p\u003e\u003cp\u003eThe Hong Kong-based airline canceled 24 long-haul flights after discovering “an engine component failure” on a flight to Zurich early on Monday, immediately grounding the fleet. Another 10 regional flights will be canceled Tuesday, although all the aircraft are expected to be back in the air by Saturday, Cathay Pacific said in a statement.\u003c/p\u003e\u003cp\u003eThe extent of the disruption to air freight schedules is not yet apparent, but the loss of the belly cargo space, even for a short period, comes at a particularly inconvenient time. Sustained demand for e-commerce from China is competing with growing volumes of high-tech components and perishables out of Asia and filling all available capacity.\u003c/p\u003e\u003cp\u003eNiall van der Wouw, chief air freight analyst at rate benchmarking platform Xeneta, said even if the issue is solved in days, it could impact shippers for up to two weeks because there is so little spare capacity available out of Hong Kong.\u003c/p\u003e\u003cp\u003e“It is difficult to quantify the impact of such measures, but it does not take much of a capacity reduction to have an impact on the [Hong Kong] air cargo market where the dynamic load factor from this airport is currently at 93% for flights into Europe and the Middle East and 89% into North America,” van der Wouw told the\u003ci\u003e Journal of Commerce\u003c/i\u003e.\u003c/p\u003e\u003cp\u003eThe enormity of sales driven by Chinese retail marketplace platforms such as Temu, Shein, Tmall and Taobao as they connect with an exploding consumer base has \u003ca href=\"https://www.joc.com/article/air-cargo-shrugs-off-seasonality-to-ride-wave-of-e-commerce-demand-5705136\"\u003eheld the air freight market out of Asia in peak season mode\u003c/a\u003e since late last year. \u003c/p\u003e\u003cp\u003eA significant portion of this volume is routed through Hong Kong, the world’s busiest air cargo airport. Gary Lau, chairman of the Hong Kong Association of Freight Forwarding and Logistics (Haffa), urged companies relying on air freight to consider contingency plans this week. \u003c/p\u003e\u003cp\u003e“While the situation may resolve relatively quickly and efficiently, there will likely be short-term disruptions that could affect pricing and availability in the air cargo market, especially given the already tight conditions,” Lau said.\u003c/p\u003e\u003ch3\u003e‘Overheated’ Asian air freight market\u003c/h3\u003e\u003cp\u003eChristian Nielitz, vice president of global air services at Crane Worldwide Logistics, said the extent of the disruption would depend on how quickly Cathay Pacific could resume normal operations.\u003c/p\u003e\u003cp\u003e“While Cathay Pacific aims to have the aircraft back in service within a few days, the air freight sector could experience short-term disruptions, especially in the already overheated Asian market,” Nielitz said.\u003c/p\u003e\u003cp\u003eThe engine component failure reported by the crew on Monday’s flight CX383 to Zurich was the first such failure on any A350, Cathay noted. But it raises questions over whether A350s at other airlines will also require grounding.\u003c/p\u003e\u003cp\u003eGlyn Hughes, director general of The International Air Cargo Association (Tiaca), said the reliability of the A350’s Trent XWB-97 engines was high, with Rolls Royce insisting it was “one of the most reliable engines ever produced.”\u003c/p\u003e\u003cp\u003e”But I would anticipate the other operators of A350s performing similar checks over the coming days,” Hughes told the \u003ci\u003eJournal of Commerce\u003c/i\u003e.\u003c/p\u003e\u003cp\u003eA wider grounding of the popular A350 at other Asian airlines would serve to amplify disruptions and could create significant challenges for air cargo operators in the region, Lau noted.\u003c/p\u003e\u003cp\u003eCathay Pacific is one of Asia’s largest air cargo operators, with the capacity of its 40 freighters supplemented by belly cargo in its 181 passenger aircraft fleet. Its 48 A350s consist of 30 A350-900s with a belly cargo capacity of approximately 17 tons and 18 of the larger A350-1000s that can carry more than 25 tons below the main deck.\u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The A350 passenger fleet has significant belly cargo capacity serving the long-haul routes out of Asia. Photo credit: Cathay Pacific.","__typename":"Metadata"},"ModDate":"1725381615003","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1725374234000","TitlePlainText":"Cathay’s A350 groundings to upset Hong Kong’s overheated air cargo market","Published":true,"Redirects":[{"Path":"/article/cathays-a350-groundings-to-upset-hong-kongs-overheated-air-cargo-market-5717966","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe extent of the disruption to air freight schedules is not yet apparent, but the loss of the belly cargo space, even for a short period, comes at a particularly inconvenient time.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The extent of the disruption to air freight schedules is not yet apparent, but the loss of the belly cargo space, even for a short period, comes at a particularly inconvenient time.","__typename":"Document"},{"Id":"5705136_JournalOfCommerce","Attachments":[{"FileName":"5705134_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eBarring changes to import duty rules in the US and Europe, e-commerce platforms will keep driving up air cargo volumes while soaking up capacity and pushing up rates for the foreseeable future — even if consumer demand falters. \u003c/p\u003e\u003cp\u003eThe enormity of sales driven by Chinese retail marketplace platforms such as Temu, Shein, Tmall and Taobao as they connect with an exploding consumer base is creating a new dynamic for an air cargo industry accustomed to seasonal patterns, not a perpetual peak season. In the short term, the entrants are crowding the market, but rising rates and tight space may spur other shippers to consider lower-cost — but slower — transport modes in the long term. \u003c/p\u003e\u003cp\u003e“Even with sluggish GDP growth, you see these massive air freight volumes because there’s a new business model that consumers are tapping into,” Niall van de Wouw, chief air freight officer at rate benchmarking platform Xeneta, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e.\u003c/p\u003e\u003cp\u003eTwo of the more visible Chinese cross-border e-commerce marketplaces, Temu and Shein, offer inexpensive products made to order and exclusively use air freight to transport huge numbers of packages to the major markets of the US and Europe. Industry estimates suggest e-commerce accounts for 20% of global air freight volume, with the volume exported from China alone enough to fill 50 to 80 freighter aircraft every day.\u003c/p\u003e\u003cp\u003eVan de Wouw said even with economic conditions and inflation slowing consumer spending, it is becoming less relevant how much people were spending on goods as opposed to the way in which they were spending.\u003c/p\u003e\u003cp\u003e“If you spend £100 on the high street [downtown], there is a 95% chance the goods you are buying will have come in by ocean,” he said. “But if you spend £80, or 20% less on the online platforms, it might be that 95% of it is by air freight.” \u003c/p\u003e\u003cp\u003eA market update by Australia-based consultancy Trade and Transport Group found overall international air cargo tonnage handled at Asia-Pacific airports was up almost 14% from January through July. Most of that growth in volume was in China, which was up 32% year over year in the first seven months of 2024; Hong Kong volume was up 24% in the same period. Other locations in Northeast Asia did not see the same level of growth.\u003c/p\u003e\u003cp\u003e“One of the key drivers behind the recent strong performance in global international air cargo has been an increase in cross border e-commerce traffic rather than a recovery in traditional manufacturing-driven supply chain cargo,” the consultancy found.\u003c/p\u003e\u003ch3\u003eRegulatory crosshairs center on online platforms\u003c/h3\u003e\u003cp\u003eA potential threat to the e-commerce bull run is the growing regulatory scrutiny into business-to-customer (B2C) online platforms, with calls to lower de minimis value thresholds in the US and Europe that allow the platforms to avoid import duties. Other suggestions from regulators include imposing a tax on certain commodities that are purchased online.\u003c/p\u003e\u003cp\u003eBut even if legislation lowers the de minimis levels, cross-border e-commerce is here to stay and will continue to grow, van de Wouw said.\u003c/p\u003e\u003cp\u003e“There are millions of US consumers who are not forced, but voluntarily buy stuff on these platforms,” he said. “The Chinese companies aren’t pushing packages into the US; they are being pulled in by consumers. While a lot of the regulatory focus is on the online platforms avoiding tax, that is a result of their business model, not a founding principle of their business.”\u003c/p\u003e\u003cp\u003eBrian Bourke, CCO at SEKO Logistics, said stiffer regulations may cause changes in air cargo, but he agreed that the general growth trend of cross-border e-commerce would continue regardless.\u003c/p\u003e\u003cp\u003e“This is all very fluid and all in flux,” Bourke told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “A lot of this demand is driven by the Internet and smartphones and those things aren’t going away. And the rising middle class around the world isn’t going anywhere, either.”\u003c/p\u003e\u003cp\u003eWhile the cross-border e-commerce boom has been highly beneficial for airlines, forwarders have not been able to capitalize on the huge volume out of China that is filling much of the available air freight capacity. For instance, despite being one of the world’s largest global forwarders, Kuehne + Nagel’s e-commerce volume was “in the single digits,” a spokesperson said.\u003c/p\u003e\u003cp\u003eSimilarly, DSV CEO Jens Lund said in a July 24 earnings call that the forwarder is “not very present” in the e-commerce market, despite the Denmark-based company being among the top five global air freight forwarders by volume.\u003c/p\u003e\u003cp\u003eThe forwarder involvement comes down to a question of value-add, according to Glyn Hughes, director general of The International Air Cargo Association (Tiaca). Hughes said forwarders have established sophisticated systems to deal with complex border management procedures and compliance to move large volumes, mostly on a business-to-business (B2B) basis.\u003c/p\u003e\u003cp\u003e“The e-commerce shipments are mostly general cargo that often falls under di minimis levels, so border management is less of an issue,” he told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “Most e-commerce shipments comprise hundreds, if not thousands, of individual consignments that need some form of final-mile solution. \u003c/p\u003e\u003cp\u003e“Considering the low-cost aspect associated with the original online purchase is often guided by the e-platform in the first place, the value-add by a forwarder is limited,” Hughes added.\u003c/p\u003e\u003ch3\u003e‘Weaponizing’ supply chains\u003c/h3\u003e\u003cp\u003eLund noted during DSV’s earnings call that “many of these e-commerce companies have a direct relation with some of the carriers because they would produce certain fixed volumes in certain areas.”\u003c/p\u003e\u003cp\u003eBourke described that as Chinese platforms using their large volume of cargo to bypass forwarders and contract directly with airlines, a process he called “weaponizing” their supply chains.\u003c/p\u003e\u003cp\u003e“The Chinese marketplaces recognize that companies don’t compete, supply chains compete,” he said. “But there are always opportunities for forwarders — if we don’t have one leg of a supply chain, we might have the other two and we are always there to fill in any gaps.”\u003c/p\u003e\u003cp\u003eBourke noted as an example that many forwarders were focused on serving specialized vertical markets and said that trend would continue, regardless of the volume being generated by e-commerce.\u003c/p\u003e\u003cp\u003e“Changing global regulations pose challenges, but whether it’s pharmaceuticals, chemicals, e-commerce, biotechnology or medical devices, all require specific expertise and if it aligns with your company’s strategy, it will make sense,” he said. \u003c/p\u003e\u003cp\u003eMarc Meier, managing director for air and sea logistics in Europe, the Middle East and Africa for Germany-based forwarder Dachser, said the Chinese online marketplaces operated their supply chains directly, a strategy that leaves little room for a forwarder.\u003c/p\u003e\u003cp\u003e“We do not like it but given the current market conditions we do not really have a choice,” he said. \u003c/p\u003e\u003cp\u003e“Regarding European customs and last-mile capabilities, you need to be able to produce [services] with very low costs as these shipments are smaller and lighter than the European average,” Meier added. “For that you need an automated customs process and high-speed sorting facilities. As far as I know, only DHL and Hermes have those capabilities.”\u003c/p\u003e\u003cp\u003eMeier did not believe the Temu-Shein model would last, with regulatory changes likely to make it unviable. But he was confident that e-commerce as part of global air freight would continue its growth trajectory and that more sustainable business models would emerge. \u003c/p\u003e\u003cp\u003eTo snare a greater share of the cross-border market, Dachser is investing in its own asset-free e-commerce solution called Global Sky Express that will offer long-haul transport, customs clearance and optimized last- and first-mile solutions.\u003c/p\u003e\u003cp\u003eWhile forwarders puzzle over how to capture more of the B2C business, any conversation around e-commerce and how long air freight can depend on its volume always comes back to the growing regulatory attention being placed on Chinese imports. The US de minimis value threshold is set at a generous $800, but van de Wouw said even if that level was reduced to $150, most products being ordered online would still fall below the benchmark. \u003c/p\u003e\u003cp\u003e“Temu and Shein have tapped into a rich vein of business,” he noted. “They are catering to millions of consumers in the US and Europe and if they don’t supply them, somebody else will step in. Trade follows the path of least resistance, and someone will find a way to link the consumers in Europe and the US to these manufacturers in China.”\u003c/p\u003e\u003cp\u003eThe only caveat, van de Wouw said, was whether the online platforms would be financially sustainable in the long term, “but there is no visibility on that.”\u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com. \"\u003e\u003ci\u003egreg.knowler@spglobal.com.\u003c/i\u003e\u003c/a\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Kuehne + Nagel says its e-commerce volume is in “the single digits.” Photo credit: Kuehne + Nagel.","__typename":"Metadata"},"ModDate":"1724087894517","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1724087893000","TitlePlainText":"Air cargo shrugs off seasonality to ride wave of e-commerce demand","Published":true,"Redirects":[{"Path":"/article/air-cargo-shrugs-off-seasonality-to-ride-wave-of-e-commerce-demand-5705136","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eChinese online marketplaces have hit on a rich vein of business-to-customer volumes, with the current boom in international air freight driven by cross-border e-commerce rather than a recovery of traditional manufacturing.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Chinese online marketplaces have hit on a rich vein of business-to-customer volumes, with the current boom in international air freight driven by cross-border e-commerce rather than a recovery of traditional manufacturing.","__typename":"Document"},{"Id":"5703214_JournalOfCommerce","Attachments":[{"FileName":"5703215_1.0.jpg","FileType":"FeatureImage","Title":"3688330_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eSolid e-commerce and Red Sea disruption-led demand on the trade lanes out of Asia is driving a progressive increase in global air cargo rates and turning seasonal benchmarks upside down. \u003c/p\u003e\u003cp\u003eDespite global air cargo markets being in the middle of what has historically been the slow summer season, there has been no slowdown in demand across all major trade lanes, and especially those out of Asia. \u003c/p\u003e\u003cp\u003eData from Netherlands-based air cargo analyst WorldACD Market Data shows global rates rising steadily from an average of approximately $2.30 per kilogram in the first three months of the year to about $2.45/kg in the second quarter. \u003c/p\u003e\u003cp\u003eThe upward trajectory continued through July, when the global rate increased 12% year over year to $2.50 per kilogram, the highest monthly increase this year. Global volume calculated by WorldACD was also up 12% in July, driven by rising air freight tonnage out of origins in Asia and the Middle East-South Asia. \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"a9b2f7d8-4ed0-432a-b50e-b1ae015004c3\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eThe unseasonal demand was similarly reflected in the overall Baltic Air Freight Index (BAI), calculated by air cargo analyst TAC, that was up 2.2% in the week ending Aug. 12. Now would be the time rates are normally falling, taking the year over year gain to 10%. \u003c/p\u003e\u003cp\u003e“Market sources are divided as to whether peak season rise has already arrived early or whether there is a further surge in rates to come in the weeks ahead — but generally agree that the market has been unusually firm for this time of year,” TAC noted in a statement this week. \u003c/p\u003e\u003cp\u003eThe tailwinds lifting air cargo tonnage and rates are being driven by buoyant e-commerce demand from consumers in the US and Europe. E-commerce has competed for space on aircraft with time- and temperature-sensitive products, while a third competitor for capacity is the modal shift from ocean to air by European importers disrupted by the Red Sea diversions. \u003c/p\u003e\u003ch2\u003e‘It could get messy’ \u003c/h2\u003e\u003cp\u003eAlthough the traditional slow summer season last year favored rate and demand comparisons, Xeneta chief air freight analyst Niall van de Wouw said the growth was coming on top of a busy market. \u003c/p\u003e\u003cp\u003e“Flights are already full so any growth will not be coming from a low base,” he told the \u003ci\u003eJournal of Commerce\u003c/i\u003e Wednesday. \u003c/p\u003e\u003cp\u003e“There is a consensus that it could get pretty messy in Q4. I am even hearing companies talking about imposing peak season surcharges at the end of August or beginning of September, which is early,” he added. \u003c/p\u003e\u003cp\u003eVan de Wouw said there was unlikely to be any slowdown in air freight demand before the peak season in the fourth quarter. \u003c/p\u003e\u003cp\u003eLeading the increase in air cargo demand and rates is the trans-Pacific trade lane with spot rates on Asia-US routes in July averaging $5.80/kg, up 70% year over year, according to WorldACD. \u003c/p\u003e\u003cp\u003eThis was reflected in data from Freightos, and Judah Levine, head of research at the online freight marketplace, noted in an air freight update this week that current rates of $4.90/kg from China to the US were at levels “typically only seen during the Q4 air peak season.” He said this suggested strong e-commerce volume was continuing to fill planes. \u003c/p\u003e\u003cp\u003eThe impact e-commerce demand is having on China’s air cargo exports is immense with the packages shipped almost exclusively by air. According to industry estimates, the e-commerce volume leaving China every day by air is enough to fill 50 to 80 freighter aircraft. \u003c/p\u003e\u003cp\u003eVan de Wouw said two fundamentals were driving air freight demand to higher-than-expected levels, and those factors would remain in play through the rest of the year and even beyond the traditional Q4 peak season. \u003c/p\u003e\u003cp\u003e“The Red Sea situation and the mess on the ocean side is a push for air freight, but the second fundamental is around consumer spending,” he said. “If you spend £100 on the high street, there is a 95% chance the goods you are buying will have come in by ocean. But if you spend £80, or 20% less on the online platforms, it might be that 95% of it is by air freight. \u003c/p\u003e\u003cp\u003e“It is becoming less relevant how much people are spending on goods as opposed to where they are spending it,” he added. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@spglobal.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The e-commerce volume leaving China every day by air is enough to fill 50 to 80 freighter aircraft, according to industry estimates. Photo credit: Cathay Pacific.","__typename":"Metadata"},"ModDate":"1723793259323","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1723648349000","TitlePlainText":"Air cargo thrives on e-commerce, disruption-driven demand","Published":true,"Redirects":[{"Path":"/article/air-cargo-thrives-on-e-commerce-disruption-driven-demand-5703214","__typename":"Redirect"},{"Path":"/article/air-cargo-thrives-e-commerce-disruption-driven-demand_20240814.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003ePeak season has come early to air freight markets and with ocean shipping disrupted and e-commerce filling planes out of Asia, the demand is set to extend through the second half and beyond.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Peak season has come early to air freight markets and with ocean shipping disrupted and e-commerce filling planes out of Asia, the demand is set to extend through the second half and beyond.","__typename":"Document"},{"Id":"5703070_JournalOfCommerce","Attachments":[{"FileName":"5703071_1.0.PNG","FileType":"FeatureImage","Title":"3688261_FI.PNG","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eAir and ocean trades out of Asia are heading for strong peak seasons as the Red Sea disruption keeps shipping capacity in short supply and strong demand for e-commerce and a modal shift fills all available air freight space. \u003c/p\u003e\u003cp\u003eThe tight supply-demand balance is holding rates at elevated levels in both transportation modes, although there are signs ocean rates may have peaked on the \u003ca href=\"https://www.joc.com/article/trans-pac-rate-stall-raises-questions-about-staying-power-h1-volume-surge_20240717.html\"\u003etrans-Pacific and Asia-Europe/Mediterranean routes\u003c/a\u003e. \u003c/p\u003e\u003cp\u003ePlatts, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global, pegged the North Asia-US West Coast spot rate at $6,500 per FEU as of July 24, down 10% on the week but almost four times the price during the same week last year. \u003c/p\u003e\u003cp\u003eAsia-North Europe rates stood at $8,300 per FEU this week, unchanged on the week but five times higher than the same week last year. Asia-Mediterranean rates were three times higher than the same week last year at $7,200 per FEU, although down $300 over last week. \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"ce55424f-ea0b-4e17-be99-b6d0889723a7\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eCapacity on the east-west trade lanes has remained exceptionally tight despite a huge influx of new vessels over the past seven months. \u003c/p\u003e\u003cp\u003e“Since the beginning of the year, the capacity of the container ship fleet has increased by 1.6 million TEUs,” Niels Rasmussen, chief shipping analyst at BIMCO, noted in a market update this week. “Compared to one year ago, the capacity has risen 11% to 29.5 million TEUs, the fastest fleet growth in 15 years.” \u003c/p\u003e\u003cp\u003eRasmussen said the global fleet capacity was expected to exceed 30 million TEUs for the first time ever at the end of the third quarter and hit 30.5 million by the end of 2024. \u003c/p\u003e\u003ch2\u003eCapacity absorbed by longer voyages, congestion \u003c/h2\u003e\u003cp\u003eA significant amount of that capacity is being absorbed by the longer route around southern Africa to avoid Houthi militant attacks in the Red Sea and Gulf of Aden that adds more than 10 days to voyages from Asia to Europe and the US. Another capacity-absorber is \u003ca href=\"https://www.joc.com/article/port-congestion-asia-easing-shifting-india-ocean-carriers-forwarders_20240621.html\"\u003econgestion in Asian ports\u003c/a\u003e that disrupts weekly services on east-west routes and results in blanked sailings. \u003c/p\u003e\u003cp\u003eBlank sailings data from Sea-Intelligence Maritime Analysis through the end of September indicates that carriers are expecting demand to fill all available space during peak season on the trans-Pacific and Asia-Europe lanes. \u003c/p\u003e\u003cp\u003eFor the 2024 peak season, carriers have so far planned to blank 3.9% of total capacity on the Asia-North America routes, even though capacity deployed in July through September is set to grow 24.6% compared with the 2023 period, according to Sea-Intelligence. \u003c/p\u003e\u003cp\u003eCarriers on Asia-Europe will blank 5.9% of capacity this peak season, while capacity will grow 13.1% year over year. \u003c/p\u003e\u003cp\u003eAlan Murphy, CEO of Sea-Intelligence Maritime Analysis, said the fact that carriers were willing to maintain the level of elevated capacity with relatively low levels of canceled sailings indicated a confident outlook for the current peak season on both major ocean trades. \u003c/p\u003e\u003ch2\u003eAir freight demand underpinned by e-commerce \u003c/h2\u003e\u003cp\u003eIn the air cargo markets, average rates from China to North Europe and North America also softened slightly this week. Shanghai-North Europe spot rates of $4.14 per kilogram were down 5% from last week but are still up 40% year over year, according to the Baltic Air Index (BAI). The average Shanghai-North America rate this week of $5.41/kg was down 2% on the week and up 26% compared with the same week last year. \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"e273b0e9-abf6-41ac-91bc-6cd04468822d\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eImports of e-commerce from China are expected to continue underpinning demand in the air freight markets. However, not all forwarders are able to benefit from the online shopping boom, with Chinese e-commerce marketplaces such as Temu and Shein typically contracting space directly with airlines. \u003c/p\u003e\u003cp\u003eOne forwarder benefiting from e-commerce demand is Kuehne + Nagel, through its Apex subsidiary. Apex is based in Asia Pacific and operates with a large part of its capacity contracted on a long-term fixed-rate basis. Although e-commerce is only part of that business, CEO Stefan Paul said 70% of the capacity offered by Apex has already been presold for the third and fourth quarters. The air cargo peak season traditionally begins deep in the fourth quarter. \u003c/p\u003e\u003cp\u003e“That’s good news for us, because we see a good peak coming towards us during the fourth quarter this year,” Paul told analysts \u003ca href=\"https://www.joc.com/article/high-ocean-rates-air-cargo-peak-expected-elevate-kn-h2-profit-ceo_20240723.html\"\u003eduring a first-half earnings call\u003c/a\u003e this week. “We will keep a bit of a gap to give us the opportunity to adjust the selling rates on a weekly basis for the remainder, but two-thirds of our volume that we have secured is a very good indicator.” \u003c/p\u003e\u003cp\u003eDSV, by contrast, is not very active in the e-commerce markets, instead producing volume in industrial sectors such as pharmaceuticals or high tech. \u003c/p\u003e\u003cp\u003e“Many of the e-commerce companies have a direct relationship with some of the air carriers because they produce fixed volumes in certain areas and charter full planes,” CEO Jens Lund told analysts \u003ca href=\"https://www.joc.com/article/high-ocean-demand-asia-shows-signs-peaking-dsv-ceo_20240724.html\"\u003eon DSV’s interim results call\u003c/a\u003e this week. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@ihsmarkit.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"More than 70% of air cargo space controlled by Kuehne + Nagel subsidiary Apex has been presold for the third and fourth quarters. Photo credit: K+N.","__typename":"Metadata"},"ModDate":"1723793197540","Taxonomy":{"MainCategory":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1721926813000","TitlePlainText":"Bullish fundamentals portend solid peak season for air, ocean markets","Published":true,"Redirects":[{"Path":"/article/bullish-fundamentals-portend-solid-peak-season-for-air-ocean-markets-5703070","__typename":"Redirect"},{"Path":"/article/bullish-fundamentals-portend-solid-peak-season-air-ocean-markets_20240725.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eMore than 70% of air cargo space controlled by Kuehne + Nagel subsidiary Apex has been presold for the third and fourth quarters.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"More than 70% of air cargo space controlled by Kuehne + Nagel subsidiary Apex has been presold for the third and fourth quarters.","__typename":"Document"},{"Id":"5703080_JournalOfCommerce","Attachments":[{"FileName":"5703081_1.0.jpg","FileType":"FeatureImage","Title":"3688256_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eDSV is expecting the solid growth in its second quarter air and ocean volume to continue at least through the third quarter, but there are signs that the high demand driven by early shipments on the trades out of Asia has peaked, CEO Jens Lund said Wednesday. \u003c/p\u003e\u003cp\u003eThe Danish forwarder’s cautiously optimistic outlook for the balance of 2024, presented along with its first-half results, was not as positive as that of rival Kuehne + Nagel, which \u003ca href=\"https://www.joc.com/article/high-ocean-rates-air-cargo-peak-expected-elevate-kn-h2-profit-ceo_20240723.html\"\u003epredicted on Tuesday higher profitability through the second half\u003c/a\u003e and a strong end-of-year air cargo peak season. \u003c/p\u003e\u003cp\u003e“The [ocean] volume we are shipping out of the origin areas is very high right now and that will impact our numbers when they come to the receiving end,” Lund told analysts on DSV’s H1 earnings call. “We also see that cargo is still being rolled, but that is perhaps tapering off, which could indicate that we’ve seen the peak.” \u003c/p\u003e\u003cp\u003eLund declined to be drawn into giving a detailed expectation for the fourth quarter, only noting that ocean cargo being shipped earlier than usual this year would have an impact on demand. \u003c/p\u003e\u003cp\u003e“We see a situation where the destocking that has taken place has probably come to an end and now there’s a more balanced situation between demand and supply,” he said. “I don’t see too many of our customers building up inventory levels at this moment. \u003c/p\u003e\u003cp\u003e“When we speak to our customers about their orderbooks, more than 50% are quite positive on the second half, but time will tell whether that feeds into real numbers,” Lund added. \u003c/p\u003e\u003cp\u003eOn the prospects of an air cargo peak season this year, Lund was also cautious, telling analysts there was “a fair chance” of demand accelerating in the fourth quarter. \u003c/p\u003e\u003cp\u003e“E-commerce coming out of Asia is putting rates up and this will continue into the second part of the year ... I don’t know if some governments might change the dynamics of the market,” he said. \u003c/p\u003e\u003ch2\u003eRoad division a ‘very tough market’ \u003c/h2\u003e\u003cp\u003eThe solid performance in air and ocean freight was driven by high demand and rate levels on the trans-Pacific and Asia-Europe trade lanes. Ocean freight shipped by DSV in the first half reached 1.3 million TEUs, up 6% year over year, with air cargo tonnage of 684,000 million metric tons also up 6%. \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"785b78e9-3733-49f3-a27b-e0858d81b7d8\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eDSV’s first-half revenue was up 2% year over year at $11.5 billion, gross profit fell 6.3% to $3 billion and earnings before interest and taxes (EBIT) fell 16.6% to $1.1 billion. H1 net profit dropped 23% to $741 million. \u003c/p\u003e\u003cp\u003eIn the second quarter, revenue of $5.9 billion was up almost 10% year over year, although gross profit of $1.5 billion was down 4%. Second quarter EBIT fell 12.4% to $595 million and net profit of $393 million was down 20% compared with the same period last year. \u003c/p\u003e\u003cp\u003eDSV’s road division reported 6% growth in first-half revenue of $3 billion and an EBIT increase of 1.4% to $150 million in what Lund described as “a very tough market.” \u003c/p\u003e\u003cp\u003eLow demand and continued overcapacity in the road freight markets of Europe, where 85% of DSV’s road division revenue is generated, saw lower freight rates in the first half compared with last year. \u003c/p\u003e\u003cp\u003e“Prices are being driven down, and if we’d not managed to grow our volumes, we would be in an awkward situation when it comes to road,” he said, although the road volume was not disclosed. \u003c/p\u003e\u003cp\u003eThe solutions division saw gross profit increase 12.3% in the first half to $1.8 billion, with EBIT up slightly at $1.1 billion. \u003c/p\u003e\u003cp\u003eWith greater visibility on its third-quarter bookings, DSV slightly lowered the lower range of its full-year EBIT expectations by $72 million to $2.25 billion, although the upper range of $2.46 billion remains in place. \u003c/p\u003e\u003ch2\u003eDSV tight-lipped over DB Schenker sale \u003c/h2\u003e\u003cp\u003eMeanwhile, Lund gave nothing away Wednesday when asked to give an update on the acquisition progress for Deutsche Bahn subsidiary DB Schenker with just one rival now left in its way. \u003c/p\u003e\u003cp\u003e“We have a policy that we don’t comment on specific transactions, so there’s not a lot we can add,” he told analysts. “In general, I can say we have an M\u0026amp;A strategy at DSV.” \u003c/p\u003e\u003cp\u003eMedia reports last week said a €15 billion bid by Saudi-owned shipping company Bahri had been withdrawn, leaving DSV and a partnership between investment funds CVC Capital Partners, Carlyle Group and the Abu Dhabi Investment Authority as the only bidders left in the race. \u003c/p\u003e\u003cp\u003eBhari joins \u003ca href=\"https://www.joc.com/article/maersk-citing-integration-challenges-says-wont-pursue-db-schenker-acquisition_20240701.html\"\u003eMaersk\u003c/a\u003e, Kuehne + Nagel and \u003ca href=\"https://www.joc.com/article/dhl-drops-pursuit-db-schenker-amid-questions-over-value-upside_20240306.html\"\u003eDHL\u003c/a\u003e in walking away from the DB Schenker sale. \u003c/p\u003e\u003cp\u003eGerman state-owned Deutsche Bahn Group began readying DB Schenker for sale in December 2022, but only called for bids in December of last year. Proceeds from the deal, expected to top $16 billion, will be used to reduce debt and allow Deutsche Bahn to focus on its core rail business. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@ihsmarkit.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"DSV’s solid performance in air and ocean freight was driven by high demand and rate levels on the trans-Pacific and Asia-Europe trade lanes. Photo credit: Tawansak / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1723793202547","Taxonomy":{"MainCategory":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1721832165000","TitlePlainText":"High ocean demand from Asia shows signs of peaking: DSV CEO","Published":true,"Redirects":[{"Path":"/article/high-ocean-demand-from-asia-shows-signs-of-peaking-dsv-ceo-5703080","__typename":"Redirect"},{"Path":"/article/high-ocean-demand-asia-shows-signs-peaking-dsv-ceo_20240724.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eJens Lund believes the supply and demand balance on the major trade lanes is being restored as front-loaded shipments make their way through the supply chain. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Jens Lund believes the supply and demand balance on the major trade lanes is being restored as front-loaded shipments make their way through the supply chain.","__typename":"Document"},{"Id":"5703084_JournalOfCommerce","Attachments":[{"FileName":"5703085_1.0.jpg","FileType":"FeatureImage","Title":"3688254_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eKuehne + Nagel is expecting a “significant” improvement in profitability in the second half of 2024 as higher ocean freight rates negotiated with customers in the second quarter kick in and combine with ongoing demand for high-margin sea-air solutions and a strong end-of-year peak season. \u003c/p\u003e\u003cp\u003eExecutives at the Switzerland-based global forwarder Tuesday presented the sunny outlook despite sharp declines across most of its first-half financial metrics compared with last year across its air and ocean divisions. \u003c/p\u003e\u003cp\u003e“We expect stronger group profits in the second half relative to the first,” CEO Stefan Paul said during an earnings call with analysts. “Several factors give us this confidence — our visibility into stronger sea freight yields, at least to the end of Q3, alongside modest volume development; an expectation for an air freight peak season in Q4 and our ongoing yield and cost management efforts.” \u003c/p\u003e\u003cp\u003ePaul said the second-half profitability would be a large improvement on the first as higher rates negotiated with customers through the second quarter would begin to take effect on top of single-digit growth in its third-quarter container volume. \u003c/p\u003e\u003cp\u003e“We have 380 key global accounts and we had to renegotiate all the rates in the second quarter,” Paul said. “Starting from the third quarter we will benefit from the rates we have agreed with our customers and that is why we are so confident in the gross profit level moving into the third and fourth quarters. We anticipate that the second half will be significantly stronger than the first half.” \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"785b78e9-3733-49f3-a27b-e0858d81b7d8\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eKuehne + Nagel’s first-half results were not helped by the effects of negative exchange rates on the Swiss franc, with the forwarder reporting overall revenue of $12.9 billion, down 9% year over year. Earnings before interest, taxes, depreciation and amortization (EBITDA) were down 22% at $1.3 billion, EBIT fell 32% to $873 million and net profit for the first six months was down 33% year over year at $646 million. \u003c/p\u003e\u003ch2\u003eFlat ocean volume, rising air freight \u003c/h2\u003e\u003cp\u003eThe Kuehne + Nagel unit covering sea logistics reported first-half revenue of $4.5 billion, down 17% year over year, with EBIT falling 38% to $445 million. Kuehne + Nagel handled 2.1 million TEUs in the first half, flat compared with the same period last year. \u003c/p\u003e\u003cp\u003eThe air logistics unit handled just over 1 million metric tons of air freight in the first half, up 5% year over year. While revenue of $3.8 billion in the first six months was down 4% year over year and EBIT fell 17% to $235 million, strengthening demand through the second quarter saw revenue for Q2 increasing 9% to $2 billion. \u003c/p\u003e\u003cp\u003eAir freight profitability will continue to strengthen through the third and fourth quarters, driven by seasonality, sustained e-commerce demand and shippers turning to sea-air solutions to shorten transit times from ships rerouting to avoid the Red Sea, Paul noted. \u003c/p\u003e\u003cp\u003e“We see a significant increase in our sea-air products based on the Red Sea crisis, which is ongoing, and e-commerce is still booming so we have much higher expectation for [air cargo] yields in the fourth quarter,” he said. \u003c/p\u003e\u003cp\u003eH1 revenue of $2 billion in the road logistics business unit was down 6% on the first half of last year, while EBIT of $74 million was a decline of 29% year over year. The 12 million orders processed was the same as last year. \u003c/p\u003e\u003cp\u003eThe acquisition of Canadian customs broker Farrow was completed in February, and Kuehne + Nagel is integrating and expanding its business on the southern border of the US that it said was “proceeding according to plan.” \u003c/p\u003e\u003cp\u003eIn the contract logistics segment, Kuehne + Nagel reported a better result as business strengthened in the second quarter, although first-half revenue of $2.6 billion was down 6% year over year and EBIT of $117 million was down 5%. \u003c/p\u003e\u003cp\u003eKuehne + Nagel expanded distribution centers in the second quarter for customers such as BMW and Wacker Neuson in Germany in addition to Lego in Belgium. New locations in the US and the United Arab Emirates were also opened to meet the growing demand for e-commerce and healthcare services. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@ihsmarkit.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Kuehne + Nagel processed 12 million orders in its road logistics segment in the first half of 2024, approximately the same as last year. Photo credit: K+N.","__typename":"Metadata"},"ModDate":"1723793205020","Taxonomy":{"MainCategory":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1721751813000","TitlePlainText":"High ocean rates, air cargo peak expected to elevate K+N H2 profit: CEO","Published":true,"Redirects":[{"Path":"/article/high-ocean-rates-air-cargo-peak-expected-to-elevate-kn-h2-profit-ceo-5703084","__typename":"Redirect"},{"Path":"/article/high-ocean-rates-air-cargo-peak-expected-elevate-kn-h2-profit-ceo_20240723.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eKuehne + Nagel’s Stefan Paul presented a sunny outlook for the rest of the year, saying he expects strengthening air and ocean yields to turn around declines reported across most of the forwarder’s financial metrics in the first half.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Kuehne + Nagel’s Stefan Paul presented a sunny outlook for the rest of the year, saying he expects strengthening air and ocean yields to turn around declines reported across most of the forwarder’s financial metrics in the first half.","__typename":"Document"},{"Id":"5192304_JournalOfCommerce","Attachments":[{"FileName":"5192305_1.0.jpg","FileType":"FeatureImage","Title":"3688217_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe first of two Boeing 777 freighters was handed over to Maersk Air Cargo in Seattle on Friday, expanding the airline’s controlled capacity on China-North Europe routes where \u003ca href=\"https://www.joc.com/article/high-flying-air-cargo-market-heading-hot-peak-season_20240705.html\"\u003ebooming e-commerce demand and the modal shift from ocean\u003c/a\u003e are keeping air freight space in short supply. \u003c/p\u003e\u003cp\u003eThree weekly flights will be offered by the freighter from Maersk’s hub at Denmark’s Billund Airport after it arrives there on Saturday. That will increase to six flights when a second B777F is delivered in the third quarter, Maersk said. \u003c/p\u003e\u003cp\u003e“Due to the disruptive environment in logistics, a rising number of cargo owners are choosing to reduce the number of service providers in their supply chain,” Narin Phol, Maersk’s executive vice president and chief product officer for logistics and services, said a statement. \u003c/p\u003e\u003cp\u003e“Increased visibility across fewer providers enables the cargo owners to react more swiftly and be better informed in case of disruption,” he added. “Availability of air freight capacity and full asset control are important aspects here.” \u003c/p\u003e\u003cp\u003eThe ongoing attacks by Houthi militants that \u003ca href=\"https://www.joc.com/article/ocean-shipping-faces-sobering-reality-long-term-diversions-around-southern-africa_20240701.html\"\u003ehave placed the Red Sea largely out of bounds\u003c/a\u003e to ocean carriers are adding up to two weeks for transit times from China to Europe, with port congestion increasing the delays. Shippers of urgent cargo are being forced into the air and are competing for limited space on aircraft with strong e-commerce demand from North America and Europe. \u003c/p\u003e\u003ch2\u003eRapid expansion of customer-targeted capacity \u003c/h2\u003e\u003cp\u003eWhile the additional 120,000-kilogram payload capacity of Maersk’s B777 freighter will soon be added to the China-Europe trade, it will be for customers and not the wider market, part of the company’s ambition to have one-third of its annual air cargo tonnage carried within its own controlled freight network as part of its integrated logistics strategy. \u003c/p\u003e\u003cp\u003eSince establishing Maersk Air Cargo in 2022, the Copenhagen-based company has expanded its freighter network on the trans-Pacific and Asia-Europe routes by increasing flight frequencies and adding a new aircraft to cover in-house air freight demand. \u003c/p\u003e\u003cp\u003eThe acquisition of air freight specialist Senator International in 2022 significantly expanded Maersk’s reach into global air cargo, which will be supported by the two new B777Fs and fleet of 20 Boeing 767 freighters currently in operation, as well as through booking space on commercial flights of other airlines. \u003c/p\u003e\u003cp\u003eMaersk rivals CMA CGM and Mediterranean Shipping Co. are also developing their air cargo offerings. CMA CGM Air Cargo is rapidly expanding its air freight network and \u003ca href=\"https://www.joc.com/article/cma-cgm-air-cargo-enters-key-trans-pacific-market-amid-e-commerce-boom_20240416.html\"\u003ein April launched an Asia-North America service\u003c/a\u003e to add to the 12 freighter flights it has each week out of Paris serving Asia-Europe, filling a crucial gap in the carrier’s global network coverage. \u003c/p\u003e\u003cp\u003e\u003ca href=\"https://www.joc.com/article/msc-takes-first-step-air-cargo-market_20220926.html\"\u003eMSC Air Cargo\u003c/a\u003e has added new routes and now operates trans-Pacific services from Hong Kong, Xiamen and South Korea to Dallas, Chicago and Mexico. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@spglobal.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Maersk Air Cargo’s new Boeing 777 freighter will operate three weekly flights to China from its hub at Billund Airport in Denmark. Photo credit: Maersk.","__typename":"Metadata"},"ModDate":"1721727377107","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1720795749000","TitlePlainText":"Maersk’s new Boeing freighter flies into China-Europe service","Published":true,"Redirects":[{"Path":"/article/maersks-new-boeing-freighter-flies-into-china-europe-service-5192304","__typename":"Redirect"},{"Path":"/article/maersks-new-boeing-freighter-flies-china-europe-service_20240712.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe carrier wants a third of its air cargo volume to be handled within an owned and controlled network as part of its integrated logistics strategy.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The carrier wants a third of its air cargo volume to be handled within an owned and controlled network as part of its integrated logistics strategy.","__typename":"Document"},{"Id":"5192258_JournalOfCommerce","Attachments":[{"FileName":"5192259_1.0.jpg","FileType":"FeatureImage","Title":"3688194_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe traditional air cargo peak season that began late last year has now extended through the first half of 2024, with demand continuing to outstrip global supply and little sign of any change in that dynamic. \u003c/p\u003e\u003cp\u003eVolumes, measured in chargeable weight, rose 13% year over year in June, continuing an upward trend seen throughout the first half of 2024, while capacity grew at its slowest pace so far this year, edging up 3% compared with June 2023, according to rate benchmarking platform Xeneta. \u003c/p\u003e\u003cp\u003eThe supply-demand imbalance is having a predictable impact on prices, according to Niall van der Wouw, Xeneta’s chief air freight officer, who warned shippers to prepare to pay even more for their cargo in the fourth quarter. \u003c/p\u003e\u003cp\u003e“The global machine is humming along nicely at this level, but this is likely the calm before the storm in terms of air freight rates,” van de Wouw said in a market update Friday, warning that airlines would likely begin charging peak season surcharges by the end of August. \u003c/p\u003e\u003cp\u003e“We expect lower demand growth year over year in the second half of 2024 because of such a strong Q4 2023 comparison, but if you haven’t arranged your Q4 capacity by now, you could be in for quite a ride,” he warned. “There’s a consensus it will be a hot Q4 for air cargo in many Asian markets.” \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"731883d1-fd83-4098-9506-a306c86757f0\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eOn a corridor level, routes from Southeast Asia to Europe and the US saw the largest spot rate increases in June, growing 14% from May to $3.65 per kilogram and $5.32 per kg, respectively, Xeneta data showed. Average pricing from Northeast Asia to Europe and the US ticked up 5% sequentially to $4.26 per kg and 4% to $4.00 per kg, respectively. \u003c/p\u003e\u003ch2\u003eStrong, steady growth \u003c/h2\u003e\u003cp\u003eTwo main factors are driving the high-flying air freight markets: \u003ca href=\"https://www.joc.com/article/sustained-demand-e-commerce-lift-2024-air-cargo-market-forwarders_20240410.html\"\u003esustained demand for e-commerce in the US and Europe\u003c/a\u003e and modal shift from ocean as \u003ca href=\"https://www.joc.com/article/highest-bidder-winning-asia-europe-ocean-trade-space-equipment-shortages-deepen_20240604.html\"\u003eRed Sea attacks by Houthi militants disrupt container shipping\u003c/a\u003e and force cargo owners with urgent shipments into the air. \u003c/p\u003e\u003cp\u003e“It doesn’t take much cargo moving over from container shipping to fill a freighter aircraft or the belly space on a passenger plane,” Glyn Hughes, director general of The International Air Cargo Association, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e recently. \u003c/p\u003e\u003cp\u003eGlobal air cargo volume recorded its sixth straight month of double-digit percentage year-over-year growth in June, Xeneta data shows, a trend that is expected to continue through July and August due to weak comparisons in the same months last year. \u003c/p\u003e\u003cp\u003eNetherlands-based air cargo analyst WorldACD noted in its latest weekly update that air freight tonnage from Asia-Pacific origins in the second quarter was up 18% year over year, similar to the 20% growth recorded in the first quarter of this year. \u003c/p\u003e\u003cp\u003e“Global air freight demand and rates remain elevated year over year, driven by Asia-Europe and Asia-North America e-commerce demand and continuing mode-switching due to the Red Sea crisis,” global consultancy AlixPartners noted in a June supply chain report. And if peak season in the fourth quarter continues to match demand through the first half, “the air freight industry will see double-digit growth in 2024.” \u003c/p\u003e\u003ch2\u003eA ‘delicate balance’ \u003c/h2\u003e\u003cp\u003eHowever, capacity is not increasing at the same pace as demand, especially on the trans-Pacific trade, where passenger flights have not yet returned to pre-pandemic levels, restricting the amount of below deck belly cargo on long-haul routes. On top of the limited supply, shippers are also fighting for space with the giant Chinese e-commerce platforms. \u003c/p\u003e\u003cp\u003eTransport Intelligence analyst Thomas Cullen said the China-US route was on “a strange trajectory,” with passenger flight frequencies still well below 2019 levels. \u003c/p\u003e\u003cp\u003e“For example, numbers from the air transport data source CAPA/OAG show that by 2024, the US was the 13th largest origin/destination for Chinese flights, down from 6th in 2019,” Cullen wrote in a report this week. \u003c/p\u003e\u003cp\u003eCullen attributed the capacity shortfall partly to US government policy, with US airlines earlier this year pressing the Biden administration not to grant greater access to Chinese airlines, citing “existing harmful anti-competitive policies.” \u003c/p\u003e\u003cp\u003eWhile the US approved an increase in China’s weekly round trip flights from 35 to 50 from March 31, this is still far below the 150 weekly round trips allowed by each side before limits were imposed in early 2020. \u003c/p\u003e\u003cp\u003eGiven the market turbulence and the potential for an air cargo rate boom in the fourth quarter, van de Wouw said shippers on the trade lanes out of Asia are shifting toward contracts of six months or more to avoid any extreme freight rate fluctuations during the upcoming peak season. \u003c/p\u003e\u003cp\u003e“With a mix of ocean shipping chaos, an upturn in manufacturing activities and fear-of-missing-out, a delicate balance of short- and long-term contracts is on everyone’s mind,” he said. “But whatever happens, you’re going to be paying a lot more to ship goods from Asia Pacific once September comes.” \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@spglobal.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Global air cargo volume recorded its sixth straight month of double-digit percentage growth in June. Photo credit: supakitswn / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721728820240","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1720191597000","TitlePlainText":"High-flying air cargo market heading for ‘hot’ peak season","Published":true,"Redirects":[{"Path":"/article/high-flying-air-cargo-market-heading-for-hot-peak-season-5192258","__typename":"Redirect"},{"Path":"/article/high-flying-air-cargo-market-heading-hot-peak-season_20240705.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eShippers that have not yet arranged air freight capacity out of Asia for the fourth quarter could be in for an expensive ride, according to Xeneta.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Shippers that have not yet arranged air freight capacity out of Asia for the fourth quarter could be in for an expensive ride, according to Xeneta.","__typename":"Document"},{"Id":"5192224_JournalOfCommerce","Attachments":[{"FileName":"5192225_1.0.jpg","FileType":"FeatureImage","Title":"3688172_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003ePushback is growing in Europe against international online shopping platforms dominating the e-commerce market, with digital trade groups calling for greater enforcement of laws for all players active in the European Union single market. \u003c/p\u003e\u003cp\u003eIn an open letter to the European Commission and enforcement authorities at the EU and national level, Ecommerce Europe, a lobby group for Europe’s digital commerce sector, emphasized the urgent need to ensure a level playing field and effective enforcement of EU law. \u003c/p\u003e\u003cp\u003eWhile the letter, also signed by 17 of Ecommerce Europe’s member associations, did not single out China-based online platforms, companies such as Temu and Shein \u003ca href=\"https://www.joc.com/article/cbp-curtails-low-value-shipment-access-multiple-customs-brokers_20240530.html\"\u003eare already under scrutiny by regulators\u003c/a\u003e in the US and Europe concerned that so-called de minimis rules are being exploited. \u003c/p\u003e\u003cp\u003e“The governments of the countries where these companies are established — mainly in Asia — often heavily subsidize their e-commerce market so that their exports towards other markets like the EU can grow exponentially,” the letter read. \u003c/p\u003e\u003cp\u003e“It is currently very challenging for EU-based players to compete on an equal level with these new players from outside the EU,” the group added. “The commercial practices used by these players raise questions about their compliance with EU legislation, especially in the areas of consumer protection, product safety, data protection, privacy, environmental and taxation legislation.” \u003c/p\u003e\u003cp\u003eEcommerce Europe and the 17 other signatories noted in the open letter that often under-resourced European national authorities give non-EU based e-commerce companies that do not “play by the rules” an unfair competitive advantage. They urged the European Commission and member states to apply the same thoroughness in enforcement that is applied in the scrutiny of companies already established and operating in the EU. \u003c/p\u003e\u003ch2\u003eGenerous ‘de minimis’ level \u003c/h2\u003e\u003cp\u003eThe growing regulatory concern over a tsunami of e-commerce imports from China entering Europe and the US duty- and tariff-free is no surprise considering the staggering scale of demand. In the US, a generous de minimis threshold exempts imported goods valued at up to $800 from duties and taxes. The volume of de minimis shipments has increased substantially since the COVID-19 pandemic, from 771.5 million shipments in 2021 to 1 billion in 2023 and 701.5 million just through the end of May this year, according to a US \u003ca href=\"https://www.cbp.gov/trade/basic-import-export/e-commerce\"\u003edashboard of such shipments\u003c/a\u003e. \u003c/p\u003e\u003cp\u003eIn the European Union, shipments of €150 and below are exempt from duties, although they are always subject to a value-added tax regardless of the value of goods. Revenue from retail e-commerce sales across the EU is expected to reach €632 billion in 2024, up 11.8% year over year. \u003c/p\u003e\u003cp\u003eWith more than 80% of all e-commerce globally transported by air, and considering packages ordered online are a major contributing factor to the tight capacity on aircraft out of China keeping rates elevated, any crackdown on e-commerce imports into Europe could have profound implications for air cargo. \u003c/p\u003e\u003ch2\u003eParcel volume rises exponentially \u003c/h2\u003e\u003cp\u003eData from the International Air Transport Association (IATA) shows global e-retail sales this year are projected to hit $6.3 trillion, up 10% year over year, with sales expected to reach $8 trillion by 2027. The volume of parcels moving across borders has also increased dramatically. In 2022, 170 billion parcels were transported; that is expected to grow 50% by 2027. \u003c/p\u003e\u003cp\u003eThe strong growth in cross-border e-commerce traffic has been maintained since last fall, with the peak season demand in the fourth quarter extended by the Red Sea attacks on shipping that has forced shippers of urgent or seasonal cargo into the air or into sea-air or rail-air alternatives. \u003c/p\u003e\u003cp\u003eThat has led to significant year-over-year increases in chargeable weight out of Asia, a measure of air cargo volume, in the first five months of 2024. The latest data from Netherlands-based air cargo analyst WorldACD shows Asia outbound volume up 20% from January through May, with the Middle East and South Asia outbound volume rising 22% year over year. \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"a9b2f7d8-4ed0-432a-b50e-b1ae015004c3\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eThe strong e-commerce demand from Asia-Pacific continues to outpace available air cargo capacity, despite a steady influx of belly space as airlines increase summer flight frequencies. That is keeping rates high, with Baltic Air Index (BAI) data showing Shanghai to North America spot rates at $5.62 per kilogram this week, up 30% year over year. Average spot rates from Shanghai to North Europe of $4.31 per kilogram are up 43%. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003egreg.knowler@spglobal.com\u003c/a\u003e.\u003c/i\u003e\u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The huge increase in online shopping in Europe and the US is filling all available air cargo capacity out of Asia. Photo credit: XiXinXing / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721731517340","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1719590831000","TitlePlainText":"Overseas e-commerce platforms not playing by EU rules: digital lobby groups","Published":true,"Redirects":[{"Path":"/article/overseas-e-commerce-platforms-not-playing-by-eu-rules-digital-lobby-groups-5192224","__typename":"Redirect"},{"Path":"/article/overseas-e-commerce-platforms-not-playing-eu-rules-digital-lobby-groups_20240628.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eChinese online platforms were not specifically mentioned in an open letter to the European Commission, but the groups noted that government subsidies made competition with Asia-based e-commerce platforms difficult.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Chinese online platforms were not specifically mentioned in an open letter to the European Commission, but the groups noted that government subsidies made competition with Asia-based e-commerce platforms difficult.","__typename":"Document"},{"Id":"5192284_JournalOfCommerce","Attachments":[{"FileName":"5192285_1.0.jpg","FileType":"FeatureImage","Title":"3688161_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eASTANA — An urgent need exists to assign a special handling code to e-commerce freight to identify the sector that has seen sustained volume growth in the last 18 months and is dominating global air cargo markets, according to the International Air Transport Association (IATA). \u003c/p\u003e\u003cp\u003eMore than 80% of all e-commerce is transported by air and mostly as general cargo. But Andre Majeres, head of e-commerce and cargo operations at IATA, told the Central Asia conference of The International Air Cargo Association (Tiaca) in Astana last week there was little insight into what was inside the packages. \u003c/p\u003e\u003cp\u003e“With the increase of the volume and knowing that electronics are very high on the consumer shopping lists, that means there are a lot of lithium batteries going by air transport,” Majeres said. “Do you ever think of what is under the seats of the aircraft you are travelling in?” \u003c/p\u003e\u003cp\u003eThe scale of the e-commerce market is staggering, and the online shopping trend that accelerated through the pandemic years shows no signs of slowing. Data from IATA shows worldwide retail sales this year are projected to hit $6.3 trillion, up 10% year over year, with sales expected to reach $8 trillion by 2027. \u003c/p\u003e\u003cp\u003eThe volume of parcels moving across borders has also increased dramatically. In 2022, 170 billion parcels were transported; that is expected to grow another 50% by 2027. \u003c/p\u003e\u003ch2\u003eNo transparency into cargo \u003c/h2\u003e\u003cp\u003eWhile the rapid growth in business is welcomed by airlines, the inability to determine the exact nature of what is being carried in their planes is unnerving for air freight executives. \u003c/p\u003e\u003cp\u003e“All of our customer base is involved in e-commerce but there is no transparency, and we have no way to judge what is e-commerce unless it is moving on a direct flight chartered by an e-commerce company,” Michael Clements, senior director of sales, customer support and business development at Atlas Air, told the Tiaca conference. \u003c/p\u003e\u003cp\u003e“In the last 12 months we have seen significant increases in e-commerce coming out of China — Shein and Temu are expected to double their volume in the next 18 months — so from a digital perspective, a special handling code is something we would like to see,” he added. \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"e273b0e9-abf6-41ac-91bc-6cd04468822d\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eChina’s e-commerce platforms, led by Shein and Temu, are buying up most of the available air cargo capacity out of China to serve huge online shopping demand from North America and Europe. That volume has held spot rates on the trans-Pacific and Asia-Europe trade lanes at elevated levels for much of the year. The average air cargo rate in June for Shanghai-Europe was $4.33 per kilogram, up 53% from the same month last year, while Shanghai-North America rates of $5.61 were 30% higher, according to the Baltic Air Index (BAI). \u003c/p\u003e\u003cp\u003eThe Chinese platforms are taking advantage of the generous “de minimis” levels in the US. The de minimis rule allows for the import of one package per day worth $800 or less without filing a formal customs entry with US Customs and Border Protection (CBP) and — perhaps more importantly — without paying duties or tariffs. But scrutiny of the de minimis rule, also known as Section 321, \u003ca href=\"https://www.joc.com/article/no-sign-air-freight-demand-easing-slow-summer-nears_20240510.html\"\u003ehas risen over the past year\u003c/a\u003e, largely due to the extensive use of the program by the China-based e-commerce giants. \u003c/p\u003e\u003cp\u003eIn late May, CBP \u003ca href=\"https://www.joc.com/article/cbp-curtails-low-value-shipment-access-multiple-customs-brokers_20240530.html\"\u003esuspended access for several customs brokers\u003c/a\u003e to its Type 86 program, \u003ca href=\"https://www.cbp.gov/trade/basic-import-export/e-commerce/faqs\"\u003ea voluntary initiative\u003c/a\u003e aimed at facilitating low-value import shipments such as e-commerce. \u003c/p\u003e\u003ch2\u003eMoving rapidly through the system \u003c/h2\u003e\u003cp\u003eNikolai Schaffner, global director of e-commerce at ground handler Swissport International, said packages ordered online were making up approximately 20% of the total global air freight volume. \u003c/p\u003e\u003cp\u003e“E-commerce deserves its own platform as the cargo often has specific needs that a special code can help with to classify the goods,” he said. \u003c/p\u003e\u003cp\u003eGlyn Hughes, director-general of Tiaca, agreed, noting that a special handling code for e-commerce would inform the way the cargo was handled through the system, similar to categories such as human remains, live animals, perishables or valuables. \u003c/p\u003e\u003cp\u003e“The demands and expectations for e-commerce are different because it involves the ownership of goods that have already been bought by someone before entering the system,” he told the conference. \u003c/p\u003e\u003cp\u003eHughes said this meant there was an expectation from consumers that the goods would be moved rapidly through the air cargo system in a highly transparent and traceable way that products being shipped to a retail outlet would not require. \u003c/p\u003e\u003cp\u003eWhile air cargo transport and logistics service providers were largely supportive of a separate code for e-commerce, Majeres said the suggestion has drawn a lukewarm reception from online shopping platforms. \u003c/p\u003e\u003cp\u003eHe said when the audience at IATA’s World Cargo Symposium in Hong Kong in March was asked whether e-commerce should have its special handling code, 70% of attendees were in favor. \u003c/p\u003e\u003cp\u003e“But when you ask the e-tailers if they would like to see a special handling code that will bring more transparency to the supply chain, they don’t want it,” Majeres said. “For them, if we start to treat the cargo differently as a special product, they fear it might lead to an increase in handling costs. \u003c/p\u003e\u003cp\u003e“We have this dual view where everyone wants more transparency, but [says] ‘please don’t charge more,’” he added. “At the moment, we see the airlines coming up with their own ways of dealing with e-commerce, but I am pushing strongly to have standard procedures adopted by the air freight industry.” \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@spglobal.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"There is no sign of a slowdown in the demand for e-commerce that is keeping air cargo capacity out of Asia in short supply. Photo credit: Markus Mainka / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721733196377","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1719332626000","TitlePlainText":"Huge volume highlights need for e-commerce special handling code: IATA","Published":true,"Redirects":[{"Path":"/article/huge-volume-highlights-need-for-e-commerce-special-handling-code-iata-5192284","__typename":"Redirect"},{"Path":"/article/huge-volume-highlights-need-e-commerce-special-handling-code-iata_20240625.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eWith more than 80% of e-commerce transported as air cargo, there are growing safety and transparency issues given the minimal view provided of what is actually inside the parcels. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"With more than 80% of e-commerce transported as air cargo, there are growing safety and transparency issues given the minimal view provided of what is actually inside the parcels.","__typename":"Document"},{"Id":"5192294_JournalOfCommerce","Attachments":[{"FileName":"5192295_1.0.jpg","FileType":"FeatureImage","Title":"3688156_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eASTANA — Kazakhstan Railways (KTZ) has begun an ambitious long-term transformation of the state-owned giant into a Maersk-styled integrated logistics operator complete with an in-house air cargo division and a multimodal reach outside Central Asia. \u003c/p\u003e\u003cp\u003eThe rail operator, which has provided a crucial link in the China-Europe rail network since the first train made a westward journey in 2011, wants to grow its business far beyond the transport of rail freight. \u003c/p\u003e\u003cp\u003e“We recently started the long-term transformation of the company into a full-scale multimodal transport and logistics company, and we are looking at developing an air cargo division,” Nurbek Bekmukhambetov, director of multimodal transportation at KTZ, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e at the Central Asia conference of The International Air Cargo Association (Tiaca) in the Kazakh capital of Astana last week. \u003c/p\u003e\u003cp\u003e“This is a common practice among transportation providers that have expanded outside their core business, such as Maersk, for example,” Bekmukhambetov said. “It was a shipping company, but they now operate their own air cargo airline, and we are looking for something similar.” He gave no timeline for KTZ’s expansion. \u003c/p\u003e\u003cp\u003eDeveloping Kazakhstan’s air cargo business with an international reach will take some doing, however. Most of the freight that enters the country is by rail from China, and after being transferred to KTZ trains at the border, it passes through to Russia, Central Asia or Europe without stopping. \u003c/p\u003e\u003cp\u003eKazakhstan has no large locally-based air cargo carrier — Air Astana only carries passengers and cargo airline Alpha Sky only operates three small freighters. Kazakhstan must also import jet fuel at a high cost and on top of the cost of refueling, any airline bringing in cargo will fly out empty because Kazakhstan has virtually no air freight exports. \u003c/p\u003e\u003cp\u003eWhile this makes Kazakhstan unattractive as an air cargo destination, both KTZ and the Kazakh government are committed to developing the country into a multimodal Central Asia hub underpinned by a strong air cargo presence. \u003c/p\u003e\u003cp\u003e“There is a strategic focus from the government on logistics and transforming KTZ from a railway company into a logistics integrator,” Catalin Ragu, director general of the Aviation Administration of Kazakhstan, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e at the Tiaca event. “KTZ already has a strong portfolio across logistic modes that we will use to build the multi-modality we need. \u003c/p\u003e\u003cp\u003e“In this context, there is a need to find a way to set up a national air cargo operator because it is essential for a country like Kazakhstan situated in the middle between Asia and Europe, and in the current geopolitical situation it is even more important for an international air cargo network to be developed,” Ragu added. \u003c/p\u003e\u003ch2\u003eRed Sea attacks \u003c/h2\u003e\u003cp\u003eRagu believes KTZ’s rail position can be leveraged into the development of rail-air products that are seeing increasing demand as longer voyages around southern Africa and growing port congestion disrupt ocean container shipping from Asia to Europe. \u003c/p\u003e\u003cp\u003eRed Sea attacks on shipping have forced ocean carriers to sail around southern Africa. The longer transit, combined with \u003ca href=\"https://www.joc.com/article/asia-europe-ocean-rates-soar-shipper-panic-brings-orders-forward_20240611.html\"\u003eearly peak season demand\u003c/a\u003e and \u003ca href=\"https://www.joc.com/article/carriers-omit-singapore-calls-amid-growing-delays-asia-port-congestion-spreads_20240531.html\"\u003eport congestion in Asia\u003c/a\u003e, has led to rising demand from shippers and forwarders \u003ca href=\"https://www.joc.com/article/red-sea-disruption-drives-asia-europe-shippers-air-rail-alternatives_20240119.html\"\u003efor multimodal westbound solutions\u003c/a\u003e, including rail and rail-air from China to Europe. \u003c/p\u003e\u003cp\u003eMany European importers object to using the northern corridor through Russia following the country’s invasion of Ukraine, but that is also having the effect of accelerating both infrastructure development along the so-called middle corridor route through Kazakhstan and the Caspian Sea to the Mediterranean and North Europe, as well as demand for intermodal services. \u003c/p\u003e\u003cp\u003eSea-air is the most common approach from forwarders using ocean transport to transshipment hubs such as Dubai, Colombo and Singapore, where containers are converted to air freight and flown to destinations in Europe or the US. \u003c/p\u003e\u003cp\u003eBut \u003ca href=\"https://www.joc.com/article/ocean-disruption-modal-shift-puts-air-cargo-course-solid-2024_20240607.html\"\u003eair freight rates have soared in the past few months\u003c/a\u003e and there is limited capacity out of China because of high demand for e-commerce, in addition to increasing interest in rail-air services, according to Bekmukhambetov. \u003c/p\u003e\u003cp\u003e“A logistics product we will offer our customers in the near future is a rail-air solution,” he said. “There is no point in starting our own airline now because an airline needs volume, and at the moment, KTZ has no air cargo volume. \u003c/p\u003e\u003cp\u003e“We will start with forwarder partnerships and build on those, and we are very well known in China, so we have an advantage over other forwarders,” he added. “Chinese forwarders have seen us developing new services and are starting to send requests for air transport.” \u003c/p\u003e\u003ch2\u003eTrans-Caspian joint venture \u003c/h2\u003e\u003cp\u003eKTZ last year formed a joint venture with Singapore’s PSA International aimed at promoting the development of the Trans-Caspian International Transport Route — the middle corridor — and improving connectivity and trade flows from Southeast Asia and China through Kazakhstan and on to Europe. The rail company also has an agreement with German counterpart Deutsche Bahn on consulting services for passenger transport and rail freight. \u003c/p\u003e\u003cp\u003e“We are in the rail transit business, so any partnerships need to be complementary to that,” Bekmukhambetov told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “Transit tariffs are our breakfast and most of KTZ income comes from cargo traveling through Kazakhstan, either to Europe or to other Central Asia countries.” \u003c/p\u003e\u003cp\u003eKTZ operates a rail network covering 16,000 kilometers with almost 50,000 freight wagons, 10 transshipment points, two ports on the Caspian Sea and an ocean terminal in China’s Lianyungang port. In 2023, a record 27 million tons of transit freight moved through Kazakhstan, including 1.2 million TEUs, up from just 270,000 TEUs 10 years ago. By 2030, KTZ expects transit traffic to grow to 4.3 million TEUs. \u003c/p\u003e\u003cp\u003eSergey Titz, CEO of Central Asian multimodal logistics provider Asia Freight, said the growth of air cargo in Kazakhstan was slow because of limited volume, lengthy customs processing times clearing cargo railed in from China and the high cost of jet fuel. \u003c/p\u003e\u003cp\u003e“Air cargo only makes sense if there is high speed processing of the cargo documentation, efficient customs, significant volume and affordable fuel,” Titz told the Tiaca conference. He said on some rail routes from China there could be a three-week wait for the cargo to cross the Kazakh border and be cleared for onward air freight shipping. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@spglobal.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Kazakhstan has no large locally-based cargo airline with Air Astana focused on passenger traffic. Photo credit: Air Astana.","__typename":"Metadata"},"ModDate":"1721730319803","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1719245641000","TitlePlainText":"Kazakhstan Railways embarks on ‘Maersk style’ integrated logistics transformation","Published":true,"Redirects":[{"Path":"/article/kazakhstan-railways-embarks-on-maersk-style-integrated-logistics-transformation-5192294","__typename":"Redirect"},{"Path":"/article/kazakhstan-railways-embarks-maersk-style-integrated-logistics-transformation_20240624.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe state-owned rail operator believes it can leverage soaring demand for China-Europe rail freight to develop a multimodal service offering underpinned by a strong air cargo network.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The state-owned rail operator believes it can leverage soaring demand for China-Europe rail freight to develop a multimodal service offering underpinned by a strong air cargo network.","__typename":"Document"},{"Id":"5244261_JournalOfCommerce","Attachments":[{"FileName":"5244264_1.0.jpg","FileType":"FeatureImage","Title":"3688100_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eVolume and rates on the main air cargo trades out of Asia and the subcontinent rose sharply in May from already inflated levels as months of container shipping disruption continues to support the modal shift from ocean. \u003c/p\u003e\u003cp\u003eCargo owners battling to find space on ships \u003ca href=\"https://www.joc.com/article/highest-bidder-winning-asia-europe-ocean-trade-space-equipment-shortages-deepen_20240604.html\"\u003efilled by an unseasonal demand surge\u003c/a\u003e are driving up demand for air freight out of Asia, the Middle East and India, pushing some analysts to already predict that global air cargo is on course for a solid year. \u003c/p\u003e\u003cp\u003e“When we take a mid-term view of the market, with these kinds of numbers we might be on track for double-digit growth for the year ... it is now a possible scenario,” Niall van de Wouw, chief air freight officer at rate benchmarking platform Xeneta, said in a market update this week. \u003c/p\u003e\u003cp\u003eWhile reasons for \u003ca href=\"https://www.joc.com/article/container-market-turn-could-keep-capacity-tight-until-october_20240604.html\"\u003ethe unexpected ocean demand\u003c/a\u003e vary from restocking to an early peak season to frontloading ahead of potential US tariffs on China, the increasing volumes have forced shippers of urgent or time-sensitive cargo into the air, and huge increases are being recorded in rates and volume. \u003c/p\u003e\u003cp\u003eThe average air cargo spot rate on the Middle East/Central Asia to Europe corridor of $3.21 per kilogram in May was up 110% compared with the same month last year, according to Xeneta. Southeast Asia to North America rates rose 65% year over year to $4.64/kg, while China to North America rates were up 43% at $4.88/kg. China-Europe spot rates for May were up 34% from May 2023 at $4.14/kg. \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"a1706cb8-467e-4c72-b9a6-1b16dc95a3d1\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eData from Netherlands-based air cargo analyst WorldACD is also reflecting surging demand and rates from origins across Asia, South Asia and the Middle East. Spot prices from India to Europe of $3.78/kg were up 160% in May, while Bangladesh to Europe rates rose 189% to $4.38/kg. Rates from Dubai to Europe of $2.28/kg are almost double those recorded in May last year. \u003c/p\u003e\u003cp\u003eWhen contracted air freight rates were included, overall average rates in May from Middle East and South Asia origins to Europe were up 77% year over year. Volume from Asia-Pacific origins was up 21% in May year over year, with spot rates 12% higher. \u003c/p\u003e\u003ch2\u003eUS e-commerce crackdown \u003c/h2\u003e\u003cp\u003eVan de Wouw said the air cargo market from China to North America continued to gain from the resilient US economy and strong e-commerce demand, but he pointed to the US crackdown on e-commerce shipments out of China as a worrying sign for the industry. \u003c/p\u003e\u003cp\u003eThe US de minimis rule allows for the import of one package per day worth $800 or less without filing a formal customs entry with Customs and Border Protection (CBP) and — perhaps more importantly — without paying duties or tariffs. But scrutiny of the de minimis rule, also known as Section 321, \u003ca href=\"https://www.joc.com/article/no-sign-air-freight-demand-easing-slow-summer-nears_20240510.html\"\u003ehas risen over the past year\u003c/a\u003e, largely due to the extensive use of the program by China-based e-commerce giants Temu and Shein. \u003c/p\u003e\u003cp\u003eIn late May, CBP \u003ca href=\"https://www.joc.com/article/cbp-curtails-low-value-shipment-access-multiple-customs-brokers_20240530.html\"\u003esuspended access for several customs brokers\u003c/a\u003e to its Type 86 program, a \u003ca href=\"https://www.cbp.gov/trade/basic-import-export/e-commerce/faqs\"\u003evoluntary initiative\u003c/a\u003e aimed at facilitating low-value import shipments such as e-commerce. \u003c/p\u003e\u003cp\u003e“At the end of 2023 we saw \u003ca href=\"https://www.joc.com/article/sustained-demand-e-commerce-lift-2024-air-cargo-market-forwarders_20240410.html\"\u003ethe dramatic impact China’s e-commerce behemoths\u003c/a\u003e had on the air cargo market,” van de Wouw said. “Everyone is now waiting anxiously to see what happens in the upcoming peak season. But if the potential rising costs and increasing transit times of e-commerce ex-China leads US consumers to procure less and less, that can have a ripple effect globally.” \u003c/p\u003e\u003ch2\u003eProfit upgrade \u003c/h2\u003e\u003cp\u003eFor now, though, the global airline industry is in solid recovery mode. Air cargo demand and fast-growing passenger travel numbers saw the International Air Transport Association (IATA) this week upgrade its 2024 industry profitability expectations. \u003c/p\u003e\u003cp\u003e“The airline industry is on the path to sustainable profits, but there is a big gap still to cover,” IATA Director-General Willie Walsh said in a statement. “To improve profitability, resolving supply chain issues is of critical importance so we can deploy fleets efficiently to meet demand.” \u003c/p\u003e\u003cp\u003eTotal airline revenue in 2024 is expected to reach $996 billion; that would be a 9.7% year-over-year increase and a new record high for the industry. IATA also upgraded its net profit expectations from $25.7 billion to $30.5 billion. Total air cargo volume is expected to reach 62 million metric tons in 2024, while the 4.96 billion passengers forecast to travel through the year will also be a record high. \u003c/p\u003e\u003cp\u003eHowever, IATA noted that air cargo is continuing to correct following the exceptional pandemic year of 2021. Key metrics are moving from the extraordinary mid-pandemic situation toward a continuation of pre-pandemic trends and levels, including yields, capacity growth, and the belly cargo-freighter capacity split. \u003c/p\u003e\u003cp\u003eDespite the strength of demand, cargo yields are expected to fall 17.5% in 2024 with significant belly capacity entering the market with the recovery of passenger travel. Cargo revenue is expected to fall to $120 billion in 2024, down from $138 billion in 2023, although an improvement on the previous forecast of $111 billion announced in December. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@spglobal.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The upwards trajectory of air cargo rates and demand out of Asia is showing no signs of slowing down. Photo credit: Sports car hub / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721825900053","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1717767896000","TitlePlainText":"Ocean disruption modal shift puts air cargo on course for solid 2024","Published":true,"Redirects":[{"Path":"/article/ocean-disruption-modal-shift-puts-air-cargo-on-course-for-solid-2024-5244261","__typename":"Redirect"},{"Path":"/article/ocean-disruption-modal-shift-puts-air-cargo-course-solid-2024_20240607.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eCargo owners battling to find space on ships filled by an unseasonal demand surge are taking all available air freight capacity out of Asia, the Middle East and India, with rate levels rising accordingly.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Cargo owners battling to find space on ships filled by an unseasonal demand surge are taking all available air freight capacity out of Asia, the Middle East and India, with rate levels rising accordingly.","__typename":"Document"},{"Id":"5213948_JournalOfCommerce","Attachments":[{"FileName":"5213965_1.0.jpg","FileType":"FeatureImage","Title":"3688084_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eGlobal air and ocean forwarder SEKO Logistics has been conditionally reinstated by US Customs and Border Protection (CBP) to participate in a program that facilitates the duty-free entry of low-value shipments days after \u003ca href=\"https://www.joc.com/article/cbp-curtails-low-value-shipment-access-multiple-customs-brokers_20240530.html\"\u003eCBP suspended SEKO from the program for 90 days.\u003c/a\u003e\u003c/p\u003e\u003cp\u003eBut SEKO has nonetheless filed a complaint against CBP in the US Court of International Trade to get reinstated unconditionally, saying it is not clear what conditions the agency has placed on the company. In the meantime, SEKO is continuing to participate in the so-called “Type 86” program. \u003c/p\u003e\u003cp\u003eIn the complaint, filed over the weekend, SEKO also said the suspension, which first came to light last Wednesday, has hurt its business reputation. \u003c/p\u003e\u003cp\u003eSEKO was suspended last week for alleged unspecified violations of the Type 86 (T86) program, where brokers electronically submit duty-free entries of shipments valued at $800 or less through CBP’s Automated Commercial Environment (ACE) system. \u003c/p\u003e\u003cp\u003e“While CBP has conditionally reinstated SEKO...the agency did so only after threat of litigation and still has failed to identify the violations that are leading to exceptional harm to our clients and our role as leading provider of Entry Type 86 services,” SEKO said in a statement to the \u003ci\u003eJournal of Commerce\u003c/i\u003e Tuesday. \u003c/p\u003e\u003cp\u003eThe T86 program falls under the broader umbrella of so-called Section 321 shipments, also called de minimis, under which low-value goods can be imported with fewer data elements than are required on a traditional customs entry. De minimis shipments are limited to one shipment of $800 or less per consignee per day; the program has been at the heart of massive growth in low-cost e-commerce shipments into the US. \u003c/p\u003e\u003cp\u003eSEKO’s complaint said the company was also suspended from CBP’s Customs-Trade Partnership Against Terrorism (C-TPAT) program, although the agency has also conditionally reinstated SEKO to that program as well. \u003c/p\u003e\u003cp\u003eStill, SEKO says the two suspensions resulted in “drastic harm” to its reputation and “caused adverse unfounded speculation as to its trade compliance performance.” The complaint also noted that “a substantial number of Section 321 shipments have been lost to competing customs brokers.” \u003c/p\u003e\u003cp\u003e“We intend to pursue all appropriate actions to protect our company [and] our clients...,” SEKO CEO James Gagne said in Tuesday’s statement. \u003c/p\u003e\u003ch2\u003eProblem began almost a year ago \u003c/h2\u003e\u003cp\u003eChicago-based SEKO alleges in the complaint that the saga over its suspension began in July 2023, when CBP notified SEKO it was initiating an audit of a sample of T86 entries that “may or may not have been filed in accordance” with program requirements. On Sept. 29, CBP notified SEKO the agency had detected “significant noncompliant” filings from the company based on a review of 10 Type 86 entries. \u003c/p\u003e\u003cp\u003eDespite a request for specific information about the violations, SEKO said CBP provided no clarity about “which entry filing violation correlated to which T86 entry.” \u003c/p\u003e\u003cp\u003eOn Jan. 22, CBP requested entry documentation for an audit of an additional 10 Type 86 entries made by SEKO; SEKO said it is still waiting for the agency to explain the violations related to those entries. \u003c/p\u003e\u003cp\u003eSEKO’s complaint also takes issue with CBP directly alerting SEKO’s customers about the company’s alleged violations of the Type 86 requirements. \u003c/p\u003e\u003cp\u003eSEKO was informed May 20 that its participation in the Type 86 program was to be suspended from May 27. A day later, SEKO said it was notified by an online retail customer that CBP had made public an internal memo, in which SEKO was listed as a customs broker that would be prohibited from filing Type 86 customs entries beginning May 30. \u003c/p\u003e\u003cp\u003eSEKO has argued that by participating in the Type 86 program, it is providing CBP with more information about the shipment, shipper and consignee than those using the de minimis duty exception, but not via Type 86 entries. De minimis entries, formally called manifest entries, require seven data elements and can be presented as a single bill of lading or a manifest listing each bill of lading manually to CBP. \u003c/p\u003e\u003cp\u003eType 86 entries, however, require an additional 10 data elements and must be submitted via a broker’s integration with ACE, CBP’s system for collecting customs entry data. \u003c/p\u003e\u003cp\u003eThe volume of de minimis shipments has increased substantially since the COVID-19 pandemic, from 771.5 million in 2021 to 1 billion in 2023. As of May 30, volume was 701.5 million, according to a \u003ca href=\"https://www.cbp.gov/trade/basic-import-export/e-commerce\"\u003eCBP dashboard of such shipments,\u003c/a\u003e a pace that would easily set a record. Of that volume, 67.3% are being cleared via the Type 86 program. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Eric Johnson at \u003ca href=\"mailto:eric.johnson@ihsmarkit.com\"\u003eeric.johnson@spglobal.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Eric Johnson, Senior Technology Editor","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"SEKO says the temporary suspension of its ability to handle low-value shipments in CBP’s Type 86 program has hurt its reputation and cost it business. Photo credit: Jonathan Weiss / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721740401653","Taxonomy":{"MainCategory":[{"Id":"16","Name":"Transport, Trade and Regulation News","Redirects":[{"Path":"/supply-chain/transport-trade-and-regulation-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1717535265000","TitlePlainText":"SEKO reinstated to US duty-free program, but still pursuing action against CBP","Published":true,"Redirects":[{"Path":"/article/seko-reinstated-to-us-duty-free-program-but-still-pursuing-action-against-cbp-5213948","__typename":"Redirect"},{"Path":"/article/seko-reinstated-us-duty-free-program-still-pursuing-action-against-cbp_20240605.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe forwarder says it has been “conditionally” restored to CBP’s so-called Type 86 program and has filed a complaint against the agency to get reinstated without conditions. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The forwarder says it has been “conditionally” restored to CBP’s so-called Type 86 program and has filed a complaint against the agency to get reinstated without conditions.","__typename":"Document"},{"Id":"5219205_JournalOfCommerce","Attachments":[{"FileName":"5219207_1.0.jpg","FileType":"FeatureImage","Title":"3688066_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eUS Customs and Border Protection (CBP) has suspended access for several customs brokers to a program meant to facilitate low-value import shipments, forwarders confirmed to the \u003ci\u003eJournal of Commerce\u003c/i\u003e Thursday. \u003c/p\u003e\u003cp\u003eThe Type 86 program is a \u003ca href=\"https://www.cbp.gov/trade/basic-import-export/e-commerce/faqs\"\u003evoluntary initiative\u003c/a\u003e in which a consignee can have its customs broker provide CBP with data filed through the agency’s automated broker interface (ABI) under the de minimis rule, which allows for the import of one package per day worth $800 or less without filing a formal customs entry with CBP and — perhaps more importantly — without paying duties or tariffs. \u003c/p\u003e\u003cp\u003eCBP in the last week informed SEKO Logistics, a global air and ocean forwarder and prominent Type 86 participant, that its access to the program would be stopped for 90 days, effective Monday. The company alerted its customers of the pending suspension this week, SEKO told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003e“During SEKO’s time participating in the Entry Type 86 program we have maintained an exceptionally high 99.9% compliance rate and have been one of the top providers of Entry Type 86 with US CBP since the inception of the program in 2019,” the company said in a statement to the \u003ci\u003eJournal of Commerce\u003c/i\u003e Thursday. “Despite our extraordinary compliance rate, we were given less than seven days before the suspension went into effect and no opportunity to address any potential or purported deficiencies identified by US CBP. \u003c/p\u003e\u003cp\u003e“We strongly disagree with this decision by US CBP and are looking into all of our options for reinstatement as soon as possible,” SEKO added. \u003c/p\u003e\u003cp\u003eThe forwarder said it was working with customers impacted on a “short-term solution that minimizes disruptions to their cross-border e-commerce supply chains.” \u003c/p\u003e\u003ch2\u003eRising regulatory scrutiny \u003c/h2\u003e\u003cp\u003eScrutiny of the de minimis rule, also known as Section 321, \u003ca href=\"https://www.joc.com/article/no-sign-air-freight-demand-easing-slow-summer-nears_20240510.html\"\u003ehas risen over the past year\u003c/a\u003e, largely due to the extensive use of the program by China-based e-commerce giants Temu and Shein. Critics of the rule say retailers abroad are using it as a loophole to evade duties, while they also point to 321 shipments as a source of illicit fentanyl and drug paraphernalia sourced abroad. \u003c/p\u003e\u003cp\u003eThe Type 86 program, \u003ca href=\"https://www.joc.com/article/de-minimis-importers-tap-cbp-pilots-faster-clearance_20210209.html\"\u003efirst piloted in 2019\u003c/a\u003e, was meant to plug the gap that resulted in CBP getting little information about low-cost shipments by providing customs brokers and logistics providers a means to attract customers but also funnel more data about those customers to the agency. \u003c/p\u003e\u003cp\u003eIn November, CBP said it was urging customs brokers participating in the Type 86 program to \u003ca href=\"https://www.joc.com/article/cbp-increases-scrutiny-skyrocketing-low-value-international-shipments_20231109.html\"\u003eincrease the information they collected from customers\u003c/a\u003e. \u003c/p\u003e\u003cp\u003e“What we’re hoping to do, especially with customs brokers who do file Type 86 [entries], is get them more aware of who the customer is, who the client is and what is actually in the shipment,” John Leonard, deputy executive assistant commissioner at CBP’s Office of Trade, said at the CONECT Northeast Cargo Symposium last fall. \u003c/p\u003e\u003cp\u003eA forwarding executive who asked not to be named said CBP’s crackdown on Type 86 shipments is curious because Type 86 participants provide CBP with more data than other de minimis shipments. The source said he wouldn’t be surprised if other customs brokers get swept up in the Type 86 crackdown in the coming months. \u003c/p\u003e\u003cp\u003eSEKO’s name surfaced when \u003ci\u003eThe Information\u003c/i\u003e reported Wednesday that the forwarder had alerted customers of the suspension. \u003c/p\u003e\u003cp\u003e“We are aware of the SEKO suspension from the contents of a letter they sent to some of the same shippers we work for,” Rich Roche, senior vice president of customs broker Mohawk Global, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e Thursday. \u003c/p\u003e\u003cp\u003eIn the letter, SEKO said it, “along with a number of other customs brokers,” received such a suspension and that they strongly disagree with the decision and intend to press for reinstatement as soon as possible. No other brokers affected by the suspension have been named publicly. \u003c/p\u003e\u003cp\u003e“We are also aware of CBP recently stepping up enforcement regarding vague description and timeliness of Type 86 entries,” Roche said. \u003c/p\u003e\u003cp\u003eThe forwarder that asked not to be named said he believes the issue is related to misclassification of items being shipped and the resultant data discrepancies that arose from those misclassifications. \u003c/p\u003e\u003cp\u003eMeanwhile, the \u003ci\u003eJournal of Commerce\u003c/i\u003e has learned that neither Temu nor Shein are SEKO customers into the US, adding further confusion as to why SEKO was specifically targeted. \u003c/p\u003e\u003cp\u003eThe volume of de minimis shipments has increased substantially since the COVID-19 pandemic, from 771.5 million in 2021 to 1 billion in 2023 and 701.5 million as of May 30 in 2024, according to a \u003ca href=\"https://www.cbp.gov/trade/basic-import-export/e-commerce\"\u003eCBP dashboard of such shipments\u003c/a\u003e. Of that volume, 67.3% are being cleared via the Type 86 program, with 87.2% moving by air and most of the remainder moving by truck. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Eric Johnson at \u003ca href=\"mailto:eric.johnson@ihsmarkit.com\"\u003eeric.johnson@spglobal.com\u003c/a\u003e\u003c/i\u003e. \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Eric Johnson, Senior Technology Editor","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Type 86 is a voluntary program within the de minimis rule that requires customs brokers to provide a larger set of data about their customers directly to US Customs and Border Protection. Photo credit: wichayada suwanachun / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721782052163","Taxonomy":{"MainCategory":[{"Id":"16","Name":"Transport, Trade and Regulation News","Redirects":[{"Path":"/supply-chain/transport-trade-and-regulation-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1717102143000","TitlePlainText":"CBP curtails low-value shipment access for multiple customs brokers","Published":true,"Redirects":[{"Path":"/article/cbp-curtails-low-value-shipment-access-for-multiple-customs-brokers-5219205","__typename":"Redirect"},{"Path":"/article/cbp-curtails-low-value-shipment-access-multiple-customs-brokers_20240530.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eGrowth in the use of a low-value shipment rule has attracted critics, who say the de minimis program provides a loophole for e-commerce companies abroad to evade duties. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Growth in the use of a low-value shipment rule has attracted critics, who say the de minimis program provides a loophole for e-commerce companies abroad to evade duties.","__typename":"Document"},{"Id":"5234281_JournalOfCommerce","Attachments":[{"FileName":"5234282_1.0.jpg","FileType":"FeatureImage","Title":"3687989_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe more than six-month long bull market for air cargo, thanks to relentless North American e-commerce demand, is showing no signs of letting up as the traditionally slower summer months approach, according to forwarders and analysts. \u003c/p\u003e\u003cp\u003eThe air cargo rally that began late last year is set to extend through the traditionally quiet summer months and into a potentially even more robust peak season, as a modal shift from ocean to air to mitigate the effects of Red Sea disruption on container shipping is combining with a huge increase in volumes from Chinese e-commerce marketplaces. \u003c/p\u003e\u003cp\u003e“If e-commerce wasn’t there, then we would have overcapacity, but e-commerce is just hoovering up all the available capacity in the market,” Jan Kleine-Lasthues, COO for air freight at Hellmann Worldwide Logistics, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e Friday. \u003c/p\u003e\u003cp\u003eKathy Liu, vice president of global sales and marketing at Dimerco Express Group, said in a recent report that the surge in demand for air cargo out of China to ship e-commerce and e-cigarettes is absorbing more than half the available outbound capacity, particularly in the southern regions. \u003c/p\u003e\u003cp\u003e“In addition, Temu has initiated sea-air routes via Taiwan, Japan and Korea into the US, altering traditional trade patterns,” Liu noted. “Consequently, freight rates from these alternative routes are now exceeding those from mainland China — an unusual occurrence.” \u003c/p\u003e\u003cp\u003eThe scale of demand for e-commerce is staggering, especially in the US, which has a generous de minimis threshold that exempts imported goods valued at up to $800 from duties and taxes. In the European Union, shipments of €150 and below are exempt from duties, although they are always subject to a value-added tax, regardless of the value of goods. \u003c/p\u003e\u003cp\u003eUS Customs and Border Protection (CBP) estimates that 2.5 million low-value, de minimis shipments arrive at its facilities every day for targeting, review and potential physical examination. In 2023, CBP processed more than 1 billion de minimis shipments worth more than $50 billion through postal, express and non-express facilities; in January alone, CBP had already processed half a billion de minimis shipments. \u003c/p\u003e\u003cp\u003eA global forwarder based in Europe who asked not to be identified said 30 to 40 freighter aircraft were leaving China every day filled with e-commerce products for destinations around the world. \u003c/p\u003e\u003cp\u003e“If another e-commerce company were to import their goods by sea freight and do the picking and packing and shipping to the customer from a warehouse in Europe, they would be paying all the duties and taxes,” the source told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “That’s why air freight for China’s e-commerce companies makes sense. Maybe they pay 50 cents more for the transport because they fly everything instead of putting it here in stock, but they save far more on duties and taxes.” \u003c/p\u003e\u003ch2\u003eIncreased regulatory scrutiny \u003c/h2\u003e\u003cp\u003eWhile the lack of taxes combined with low-cost shipping via the postal service has allowed US consumers to benefit from cheap imported goods, resulting in the exponential growth of the market, there is growing pushback from US and European lawmakers and trade organizations. \u003c/p\u003e\u003cp\u003eThe European Commission, for example, is reviewing the underlying business model of online marketplaces such as Temu and Shein and whether it contravenes the Digital Services Act. In the run up to the US presidential elections in November, legislators are calling for tougher tariffs against Chinese companies exporting to the US. \u003c/p\u003e\u003cp\u003eSome industry organizations in the US are also riled up over the incoming flood of e-commerce and the shipments falling under the de minimis threshold. Kim Glas, president and CEO of the National Council of Textile Organizations, told the US Trade Representative’s Office last week that “unchecked foreign predatory trade practices” had forced the closure of 14 textile factories in recent months. \u003c/p\u003e\u003cp\u003e“One of the most important actions Congress and the Biden administration can take to counter these illegal trade practices is to close the de minimis loophole,” Glas said, calling on legislation to be passed “immediately to completely close it.” \u003c/p\u003e\u003cp\u003eJohn Manners-Bell, founder and CEO of consultancy Transport Intelligence, warned that although e-commerce volume has become critical to the success of the air cargo sector, there was a real threat that laws proposed in the US — with backing from across the political spectrum — could undermine the growth of the industry. \u003c/p\u003e\u003cp\u003e“During a period of economic downturn, [e-commerce] has provided a lifeline to the air cargo sector,” he wrote in a report this week. “However, given US politicians’ appetite for shutting down Chinese platforms, with TikTok presently in the crosshairs, there is no guarantee that this buoyant market will continue forever.” \u003c/p\u003e\u003ch2\u003eRates remain elevated \u003c/h2\u003e\u003cp\u003eWhile it lasts, however, the sustained demand is keeping trans-Pacific air freight rates well above prior-year and pre-pandemic levels. According to Wenwen Zhang, air freight analyst at rate benchmarking platform Xeneta, following a dip in March after the Lunar New Year, the eastbound corridor from Northeast Asia to the US has seen spot rates rebound more than 30% year over year. \u003c/p\u003e\u003cp\u003e“Air cargo rates from prominent e-commerce origins — Southern China and Hong Kong — have been elevated since the end of last year’s peak season,” she wrote in a market update Friday. \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"a9b2f7d8-4ed0-432a-b50e-b1ae015004c3\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eDuring the first week of May, general cargo spot rates to the US from Southern China and Hong Kong reached $5.24 per kilogram (kg) and 4.23 per kg, respectively, approximately 85% higher than in the same period of 2019, Xeneta data shows. \u003c/p\u003e\u003cp\u003eAverage Shanghai-North America air cargo spot rates assessed by the Baltic Air Index of $5.31 per kg this week have not fallen below $5 per kg since last October. \u003c/p\u003e\u003cp\u003eTrade between South Asia and Europe is also expected to see continued strong demand through the end of the year, having been \u003ca href=\"https://www.joc.com/article/supply-demand-disruption-continues-elevate-south-asia-air-cargo-rates_20240419.html\"\u003esignificantly affected by the diversion of container ships around southern Africa\u003c/a\u003e. \u003c/p\u003e\u003cp\u003e“The expectations are for a strong peak season out of Asia but also out of the Indian subcontinent,” Hellmann’s Lasthues said. “These are the two markets where we expect an extremely strong peak season, and this is also the information we are getting from our customers, especially in the fashion industry.” \u003c/p\u003e\u003cp\u003eThe high demand into May is reflected in outbound volume from Middle East/South Asia (MESA) origins. In weeks 17 and 18 (April 28 through May 5), MESA air exports increased 26% compared with the previous two weeks, according to Netherlands-based air freight analyst WorldACD. Because of the shorter transit times, air cargo rates and volumes are typically measured in weeks. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003egreg.knowler@spglobal.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"US CBP processed more than 1 billion de minimis shipments in 2023, but in January alone, CBP had already processed half a billion such shipments. Photo credit: Jaromir Chalabala / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721796743037","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1715354241000","TitlePlainText":"No sign of air freight demand easing as ‘slow’ summer nears","Published":true,"Redirects":[{"Path":"/article/no-sign-of-air-freight-demand-easing-as-slow-summer-nears-5234281","__typename":"Redirect"},{"Path":"/article/no-sign-air-freight-demand-easing-slow-summer-nears_20240510.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eUnderpinning strong volume growth is booming demand for Chinese e-commerce in the US and modal shift from ocean to air in South Asian countries to mitigate Red Sea disruptions.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Underpinning strong volume growth is booming demand for Chinese e-commerce in the US and modal shift from ocean to air in South Asian countries to mitigate Red Sea disruptions.","__typename":"Document"},{"Id":"5199642_JournalOfCommerce","Attachments":[{"FileName":"5199644_1.0.jpg","FileType":"FeatureImage","Title":"3687961_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eLower rates for ocean and air freight weighed on DHL Global Forwarding in the first quarter, with the company seeing sharply reduced earnings and revenues despite an increase in volumes, particularly from Asia, parent company DHL said Tuesday. \u003c/p\u003e\u003cp\u003eGroup CFO Melanie Kreis would not be drawn on the near-term freight rate outlook or the likelihood of a modal shift from ocean to air or sea-air caused by supply chain disruptions, including the ongoing vessel diversions to avoid the Red Sea. \u003c/p\u003e\u003cp\u003eInstead, Kreis said “there are always distortions” that influence spot rates and sometimes lead to a shift between air and ocean. “It’s a normal part of business,” she said during a first-quarter results briefing. \u003c/p\u003e\u003cp\u003eKreis forecasts that DHL’s results for the second quarter would be similar to Q1 but believes there will be an improvement in the second half of the year. She said the air and ocean sectors are going through “an extended period of market sluggishness.” \u003c/p\u003e\u003cp\u003eDHL Global Forwarding saw earnings before interest and taxes (EBIT) fall 32% to $283 million (€263 million) in the first quarter, while revenue dropped 16% to $5 billion. \u003c/p\u003e\u003cp\u003eThe declines came even though the company’s ocean freight volumes climbed 6.6% in the quarter, while air cargo volumes rose 5.1%. The improvement in air freight volumes was “primarily attributable to trade routes between Asia and Europe,” DHL said. \u003c/p\u003e\u003ch2\u003eFull-year guidance unchanged\u003c/h2\u003e\u003cp\u003eThe company’s Express business, its biggest contributor in terms of revenue and EBIT, reported a 30% drop in EBIT to $681 million in Q1 while revenue slipped 4.4% to $6.5 billion. \u003c/p\u003e\u003cp\u003eKreis said results at both Global Forwarding and Express were in line with expectations. She pointed out that for Global Forwarding, EBIT was still down in Q1 compared with the “elevated post-pandemic” result of last year, while Express saw continued weak demand. \u003c/p\u003e\u003cp\u003eOverall, the DHL Group posted a slight decrease in Q1 EBIT to $1.4 billion, while revenues slid to $22 billion from $22.5 billion. Full-year guidance is unchanged, with operating profit forecast at between $6.5 billion and $7.1 billion. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Keith Wallis at \u003ca href=\"mailto:keithwallis@hotmail.com\"\u003ekeithwallis@hotmail.com\u003c/a\u003e.\u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Keith Wallis, Special Correspondent","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"DHL Global Forwarding’s air cargo volumes rose 5.1% in the first quarter, with the improvement mainly linked to trade routes between Asia and Europe. Photo credit: Andrew Harker / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721794217207","Taxonomy":{"MainCategory":[{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1715100730000","TitlePlainText":"Lower ocean, air rates weigh on DHL Global Forwarding despite volume growth","Published":true,"Redirects":[{"Path":"/article/lower-ocean-air-rates-weigh-on-dhl-global-forwarding-despite-volume-growth-5199642","__typename":"Redirect"},{"Path":"/article/lower-ocean-air-rates-weigh-dhl-global-forwarding-despite-volume-growth_20240507.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eGroup CFO Melanie Kreis would not comment on the near-term freight rate outlook or the likelihood of a modal shift from ocean to air or sea-air caused by supply chain disruptions, including the ongoing vessel diversions to avoid the Red Sea.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Group CFO Melanie Kreis would not comment on the near-term freight rate outlook or the likelihood of a modal shift from ocean to air or sea-air caused by supply chain disruptions, including the ongoing vessel diversions to avoid the Red Sea.","__typename":"Document"},{"Id":"5221896_JournalOfCommerce","Attachments":[{"FileName":"5221901_1.0.jpg","FileType":"FeatureImage","Title":"3687877_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eAir cargo rates from South Asia to Europe are holding at levels more than double one year ago as several factors align to upset the supply-demand balance on the westbound trade lane. \u003c/p\u003e\u003cp\u003eIndian subcontinent shippers are turning to air as container shipping diversions around southern Africa to avoid attacks in the Red Sea create significantly longer transit times. At the same time, strong economic activity in India is increasing demand for air cargo while China’s booming e-commerce exports are siphoning off regional air freight capacity. \u003c/p\u003e\u003cp\u003eJan Kleine-Lasthues, COO for air freight at forwarder Hellmann Worldwide Logistics, said the diversions around southern Africa by carriers on the main Asia-Europe routes were causing the omission of Indian subcontinent port calls, making other transport modes such as air cargo or sea-air combinations attractive. \u003c/p\u003e\u003cp\u003e“Shipping lines from Shanghai can go straight down and around Africa, and they don’t lose that much transit time because they are skipping ports in the subcontinent and on the way back,” he told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003e“The fashion industry is also seeing strong demand and there are a lot of freight trucks from Bangladesh crossing the border into India, which is adding to demand for air freight,” he added. \u003c/p\u003e\u003cp\u003eAnother significant contributing factor to the elevated air cargo rates is the shortage of capacity as big Chinese e-commerce marketplaces buy up as much space as they can find at premium rates \u003ca href=\"https://www.joc.com/article/sustained-demand-e-commerce-lift-2024-air-cargo-market-forwarders_20240410.html\"\u003eto serve strong US demand\u003c/a\u003e. \u003c/p\u003e\u003cp\u003e“Capacity has moved from the Indian subcontinent to the Chinese market because of the high rates, and because of that the rates out of India, Pakistan and Bangladesh are going up very fast,” Kleine-Lasthues said. \u003c/p\u003e\u003cp\u003eIn a recent market update, Wenwen Zhang, air freight analyst at rate benchmarking platform Xeneta, said some India shippers will continue to use air freight services for urgent cargo, and that given the huge volumes involved in ocean freight, even a small percentage shift in transport mode would keep air cargo demand and rates elevated. \u003c/p\u003e\u003cp\u003eThere is also strong underlying economic growth in India. The HSBC Flash PMI for March, compiled by \u003ci\u003eJournal of Commerce\u003c/i\u003e parent S\u0026amp;P Global, indicated a sharp rate of expansion that at 61.3 was the strongest since July 2023. Any figure over 50 indicates expansion. \u003c/p\u003e\u003cp\u003e“Led by the strongest manufacturing output in nearly three and a half years, the composite output index rose quickly,” Pranjul Bhandari, chief India economist at HSBC, said in his analysis of the March PMI result. “New orders rose at a faster pace than in the previous month, and within that both domestic and export orders showed improved vigor.” \u003c/p\u003e\u003ch2\u003eRates up sharply from one year ago \u003c/h2\u003e\u003cp\u003eThe rising air rates were captured in the latest data for the second week of April (week 15) from air cargo analyst WorldACD that found spot rates out of the Middle East and South Asia remain high compared with pre-pandemic levels. \u003c/p\u003e\u003cp\u003eOverall, rates to Europe from the Middle East and South Asia were up 122% on their level from the same time last year, with India-Europe spot rates in particular averaging $4.05 per kilogram (kg) in week 15, up 174%. \u003c/p\u003e\u003cp\u003eBangladesh-Europe spot rates edged up in week 15 to $4.61 per kg and are up 176% year over year, while Sri Lanka-Europe prices are up 53%. Dubai-Europe spot rates are up 33% compared with the second week of April last year. \u003c/p\u003e\u003cp\u003eAs rates rose, tonnage out of South Asian countries including India, Pakistan and Bangladesh slipped in the second week of April as the Muslim holy month of Ramadan came to an end. But the volume is high compared with normal levels for this time of year, especially to European destinations, according to WorldACD. \u003c/p\u003e\u003cp\u003eOverall air freight volume from the Middle East and South Asia to Europe was up 17% in the second week of April compared with the same week last year, despite a week-over-week sequential decline of 18%. Dubai-Europe tonnage in week 15 was more than double the volume carried in the same week last year, even after a 21% week-over-week decline, data shows. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@spglobal.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"India’s air cargo market is under pressure as rising demand contends with capacity constraints. Photo credit: Media_works / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721741185610","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1713536504000","TitlePlainText":"Supply-demand disruption continues to elevate South Asia air cargo rates","Published":true,"Redirects":[{"Path":"/article/supply-demand-disruption-continues-to-elevate-south-asia-air-cargo-rates-5221896","__typename":"Redirect"},{"Path":"/article/supply-demand-disruption-continues-elevate-south-asia-air-cargo-rates_20240419.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eGiven the huge volumes involved in ocean freight, even a small percentage shift in transport mode from South Asia shippers is enough to keep air cargo demand and rates buoyant.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Given the huge volumes involved in ocean freight, even a small percentage shift in transport mode from South Asia shippers is enough to keep air cargo demand and rates buoyant.","__typename":"Document"},{"Id":"5219607_JournalOfCommerce","Attachments":[{"FileName":"5219609_1.0.jpg","FileType":"FeatureImage","Title":"3687829_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eRobust demand for e-commerce from the US and Europe that drove global air cargo volume growth in the first quarter is expected to lead into a “heavy” peak season later this year, air freight forwarders say. \u003c/p\u003e\u003cp\u003eEven as below-deck cargo capacity in Asia floods back into the market as long-haul passenger flights are reactivated and weekly frequencies increase, demand from e-commerce retailers will keep available capacity under mounting pressure. \u003c/p\u003e\u003cp\u003e“The pandemic years may be over, but the growth in e-commerce is here to stay, and that e-commerce demand continues to be a main driver in the current air freight market,” said Joshua Bowen, global air and ocean leader at CEVA Logistics. \u003c/p\u003e\u003cp\u003e“Nearly all exports of general cargo from Asia are being affected by the limited capacity, meaning rates are up and charters are taking their usual position to cover the lack of capacity, which is likely to be even stronger during the fourth quarter,” Bowen added. \u003c/p\u003e\u003cp\u003eJan Kleine Lasthues, COO for air freight at Hellmann Worldwide Logistics, agreed that the robust demand on the main east-west trades was likely to continue. \u003c/p\u003e\u003cp\u003e“It's not that easy to get more capacity out of China at the moment and there are expectations that the demand will increase even further through the year,” he said. “Last year we had an especially heavy peak season before Christmas, and we expect it will happen again this year out of China because of demand for cheap e-commerce.” \u003c/p\u003e\u003cp\u003eYikun Shao, head of North America supply chain at B2B online marketplace Alibaba.com, said the surge in market demand over the first few months of the year was linked to “robust” e-commerce volumes and recent disruptions affecting ocean shipping routes, particularly the Red Sea. \u003c/p\u003e\u003cp\u003e“This heightened demand for air freight has led to a notable year-over-year growth in volumes, as well as rising overall rates,” he told the \u003ci\u003eJournal of Commerce\u003c/i\u003e this week. “Vigorous growth is forecasted in the e-commerce sector and overall demand is expected to remain strong.” \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"5f744468-cea3-42bd-bc9d-cc45949d4ba9\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eGreg Weigel, chief business officer at Illinois-based AIT Worldwide Logistics, agreed that e-commerce demand was “staying very strong,” with prominent e-commerce companies willing to pay premium rates to move cargo. \u003c/p\u003e\u003cp\u003e“Combined with continuing Red Sea bottlenecks, this could tighten capacity and create potential surges in demand later in the year that may potentially require more charter lift,” he said. \u003c/p\u003e\u003cp\u003eTaiwan-based forwarder Dimerco noted in a market update last week that Chinese e-commerce giants Temu and Shein were largely responsible for the huge e-commerce demand out of North Asia to the US and Europe. The demand for e-commerce has seen \u003ca href=\"https://www.joc.com/article/asian-air-cargo-block-space-sold-out-2024-e-commerce-fills-export-capacity_20240404.html\"\u003eall BSAs for 2024 already sold out\u003c/a\u003e to the US and Europe. \u003c/p\u003e\u003cp\u003eHolger Ketz, global head of the air logistics network and carrier management at Kuehne + Nagel, said BSAs offered by airlines were being directly transacted with e-commerce companies. \u003c/p\u003e\u003cp\u003e“In contrast to the trends seen in the past years, discussions regarding block space agreements (BSAs) commenced earlier than what has been considered normal,” Ketz said, adding that the BSAs allocated by airlines for 2024 had surpassed those offered in previous years. \u003c/p\u003e\u003cp\u003eLasthues said a year ago, Hellmann was reluctant to make fixed agreements with airlines but now “everybody now tries to secure as much as capacity as possible on fixed allocations because everybody knows how hard it was last year.” \u003c/p\u003e\u003ch2\u003eRapid global expansion \u003c/h2\u003e\u003cp\u003eWhile there is little public information on the volume moved by Temu and Shein, a forwarder told the \u003ci\u003eJournal of Commerce\u003c/i\u003e that during last year’s peak season before Christmas, the two companies were shipping a combined 6,000 tons of cargo a week by air – enough to fill 60 freighters – mostly to the US and Europe. \u003c/p\u003e\u003cp\u003e“The more established e-commerce companies such as Amazon or Alibaba have traditionally used warehouses in Europe and North America that are supplied with products from Asia shipped in by ocean,” the source explained. “But Temu and Shein are shipping huge volumes of heavily discounted products using 100% air freight out of China.” \u003c/p\u003e\u003cp\u003eTemu and Shein are fierce rivals and do not disclose their shipment volumes. But aggressive discounting, extensive marketing across social media platforms and free deliveries have caused the global reach of the Chinese online marketplaces to expand rapidly in the past 18 months. \u003c/p\u003e\u003cp\u003eTemu was founded in 2022 by parent company PDD Holdings, which is listed in Shanghai and on the Nasdaq. PDD describes itself as an “agricultural group” that moved its corporate headquarters to Dublin in 2023. \u003c/p\u003e\u003cp\u003eTemu’s performance is unknown – the company did not respond to \u003ci\u003eJournal of Commerce\u003c/i\u003e inquiries – but the profitability of its parent gives an indication of how successful the e-commerce retailer is. PDD in 2023 reported a 90% year-over-year increase in revenue to $35 billion, with 60% of that from “online marketing services.” Its net profit of $8.5 billion was also a 90% increase compared to 2022. \u003c/p\u003e\u003cp\u003eShein was founded in Nanjing in 2008 and moved its headquarters to Singapore in 2022. According to the \u003ci\u003eFinancial Times\u003c/i\u003e, the online fast fashion group more than doubled its net profit in 2023 to $2 billion with the total value of goods sold on its website last year topping $45 billion. Shein has applied to Beijing to launch an IPO in either London or New York as it continues its rapid global expansion. \u003c/p\u003e\u003ch2\u003eLooming capacity crunch \u003c/h2\u003e\u003cp\u003eThe air freight market may be revelling in its e-commerce-led boom time, but the industry is heading for a longer-term shortage of capacity and will struggle to accommodate the growing volume, according to Atlas Air CEO Michael Steen. \u003c/p\u003e\u003cp\u003eAt the recent International Air Transport Association’s World Cargo Symposium in Hong Kong, Steen warned that this year’s expected demand growth of up to 4.5% will outstrip available air freight capacity, and the imbalance would become even more acute as old cargo planes were retired. \u003c/p\u003e\u003cp\u003e“We're going to see a tremendous number of aircraft leaving the global fleet, we're not going to see the new production wave growing to the same extent, and we are also not going to see enough converted aircraft coming into the market,” he told the IATA event. \u003c/p\u003e\u003cp\u003eSteen said 120 of the 650 freighters currently in operation were already over 30 years old and reaching the end of their lives, adding that the missing capacity would not be replaced fast enough. \u003c/p\u003e\u003cp\u003eFreighters carry 60% of global air freight, with the other 40% going in the bellies of passenger planes. But manufacturing in Asia is growing in locations in Southeast and South Asia that have limited passenger connections. Even the production powerhouse of Vietnam has limited direct connections with major destinations and relies on transit via hub airports. \u003c/p\u003e\u003cp\u003e“We expect the general cargo demand to pick up on top of e-commerce, which is amazing in itself, and those two components combined are going to require more dedicated airframes at the same time as the global fleet will be reducing in size,” Steen said. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@spglobal.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Rival Chinese e-commerce giants Temu and Shein are using using air freight to reach US and European markets. Photo credit: Ascannio / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721822693490","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1712761497000","TitlePlainText":"Sustained demand for e-commerce to lift 2024 air cargo market: forwarders","Published":true,"Redirects":[{"Path":"/article/sustained-demand-for-e-commerce-to-lift-2024-air-cargo-market-forwarders-5219607","__typename":"Redirect"},{"Path":"/article/sustained-demand-e-commerce-lift-2024-air-cargo-market-forwarders_20240410.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eChinese e-commerce marketplaces are rapidly expanding their global reach as strong demand from online shoppers in the US and Europe drives up air freight volumes and keeps transport capacity tight.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Chinese e-commerce marketplaces are rapidly expanding their global reach as strong demand from online shoppers in the US and Europe drives up air freight volumes and keeps transport capacity tight.","__typename":"Document"},{"Id":"5234331_JournalOfCommerce","Attachments":[{"FileName":"5234332_1.0.jpg","FileType":"FeatureImage","Title":"3687759_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eA year of muted cargo demand, especially relative to the historic highs of the pandemic, translated into sales struggles in 2023 for more than three-quarters of the world’s biggest third-party logistics providers (3PLs). \u003c/p\u003e\u003cp\u003eOnly nine of the companies on the \u003ci\u003eJournal of Commerce\u003c/i\u003e’s Top 40 3PLs list, prepared by SJ Consulting, grew their revenues in 2023, as clear a sign as any that demand and rate levels came crashing back to Earth last year. The impacts of the Red Sea crisis, which emerged in the second half of December, came far too late to rescue any growth ambitions for most logistics companies. \u003c/p\u003e\u003cp\u003eOf the 31 that saw revenue decline in 2023, all but five saw it drop by at least 10%. And of the remaining 26, 16 saw revenue decline by more than 20%. Nine 3PLs saw revenue fall by more than 30%, including three of the top five, while three companies experienced a drop of more than 40%. \u003c/p\u003e\u003cp\u003eAnother notable development was the fortunes of DB Schenker, which is in the midst of a sales process that analysts say could reach $20 billion. The German 3PL saw revenue decline 30.5% in 2023, but its \u003ca href=\"https://www.joc.com/article/db-schenker-profitable-2023-shows-its-still-jewel-deutsche-bahn-crown_20240321.html\"\u003eprofit was $1.2 billion\u003c/a\u003e, more than double its pre-pandemic profit in 2019. \u003c/p\u003e\u003cp\u003eIn some ways, the overall declines in revenue for the world’s biggest 3PLs was no surprise, given the intense ramp up in revenue from 2020. Things couldn’t grow in that direction in perpetuity. \u003c/p\u003e\u003cp\u003eKuehne+Nagel, the third largest 3PL on the list, is a case in point. The forwarder had 2020 revenue of $26.9 billion, which rose to $45.1 billion in 2022, a 67.7% increase in just two years. The company’s \u003ca href=\"https://www.joc.com/article/kn-buoyed-robust-2023-result-late-q4-market-recovery_20240301.html\"\u003e$29.7 billion turnover in 2023\u003c/a\u003e was down 34.2% year over year but was more in line with the pre-pandemic trendline. \u003c/p\u003e\u003cp\u003eIn light of the expected drop in revenue, Kuehne+Nagel CEO Stefan Paul, during the company’s March 1 earnings call, suggested that a key metric to judge the company was that its gross profit fell at half the rate of its revenue as the company focused on yield. It is also midway through a headcount reduction of 1,300 people globally. \u003c/p\u003e\u003cp\u003e“We see some stabilization of demand and we are well-positioned to maintain or expand our share of a recovering market,” Paul said. \u003c/p\u003e\u003ch2\u003ePandemic-era volumes not ‘normal’ \u003c/h2\u003e\u003cp\u003eKuehne+Nagel was hardly alone in navigating a testing market — one where absolute demand wasn’t exactly absent, but where managing shareholder and board expectations raised by the highly profitable pandemic years was always going to be a challenge. \u003c/p\u003e\u003cp\u003e“Many companies had pressure from boards, who saw the 2021 and 2022 volumes as normal, and they were not,” one 3PL CEO, who asked not to be identified, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “Volumes from all customers dropped, but we saw this most on the inbound from Asia. This was caused by the well-documented inventory issues in 2022 that meant bloated warehouses for most customers. We knew this was coming so no surprise really.” \u003c/p\u003e\u003cp\u003eThe evergreen question of \u003ca href=\"https://www.joc.com/article/nvos-chase-market-share-or-margin-demand-downslope_20230828.html\"\u003ehow 3PLs manage a downturn\u003c/a\u003e also came to the fore. Some view periods of weak demand and rates as a time to hunker down, get costs under control and survive until the next up cycle. Others see it as a time to expand market share by offering competitive — sometimes below market — rates that position them to have a larger customer base ahead of the next up cycle. \u003c/p\u003e\u003cp\u003e“Our strategy is simple: volume,” said an executive at another 3PL, who also did not want to be identified. “Volume over margin in a market where now many of the big boys are turning away from loss-making or low-margin business.” \u003c/p\u003e\u003cp\u003eThe executive said in the 3PL business, “you can get volume, or you can get margin, but you can’t get both.” \u003c/p\u003e\u003cp\u003e“If you focus on margin, it is at the expense of volume,” the source said. “But if you focus on volume and you ‘work’ the business with strong negotiations, a tight operation and the right partners, eventually you get margin.” \u003c/p\u003e\u003cp\u003eIndeed, Kuehne+Nagel said in its earnings call that it is actively dropping cargo segments that don’t match its yield expectations, opening the door for other 3PLs seeking to grow volumes in the immediate term. \u003c/p\u003e\u003ch2\u003e‘Buying business’ strategy not working \u003c/h2\u003e\u003cp\u003eOnly four companies in the top 15 saw volumes increase — Amazon, CEVA Logistics, GXO and Rhenus Logistics. Collectively, those four companies grew revenue by $28.2 billion while the other 11 in the top 15 ceded $66.1 billion in revenue in 2023. \u003c/p\u003e\u003cp\u003eOne 3PL source who did not want to be identified told the \u003ci\u003eJournal of Commerce\u003c/i\u003e that’s symptomatic of a shift in pricing power in ocean freight. \u003c/p\u003e\u003cp\u003e“Something very interesting happened in the ocean freight forwarding market that I have not seen before,” the source said. “Rates plummeted, and most forwarders adopted the tactic of ‘buying business.’ Historically this has been successful as the forwarders gain market share and then go back and re-price the lanes higher. \u003c/p\u003e\u003cp\u003e“But this time it isn’t working,” the source added. “Customers seem to be savvier and more informed about economics, and the argument from ocean carriers that ‘you are not as big as Walmart so you have to pay more’ isn’t flying. Now most forwarders are seeing cash flow issues as they work through the surplus gained in 2021-2022 to offset losses.” \u003c/p\u003e\u003cp\u003eIndeed, Caitlin Murphy, CEO of Global Gateway Logistics, said that 2023 brought 3PLs and their customers back into a more normal range on rates, even if geopolitical events threatened to bring “turbulence” back into the market. \u003c/p\u003e\u003cp\u003e“BCOs [beneficial cargo owners] were able to gain back percentage points in margin they may have lost due to shipping cost inflation in the years prior,” Murphy said. “Overall, 2023 brought back some normalcy to a very chaotic market.” \u003c/p\u003e\u003cp\u003e\u003ca href=\"https://www.joc.com/article/logistics-technology-market-grappling-pandemic-period-overhiring_20230718.html\"\u003eManaging headcount\u003c/a\u003e during the year, meanwhile, was a problem for virtually all 3PLs in the top 40. While Flexport (not on the top 40 list) garnered the most headlines for its series of layoffs in 2023, most 3PLs quietly addressed headcount. \u003c/p\u003e\u003cp\u003eExpeditors, for instance, said it let staff go in each quarter on the way to a 45.5% decline in revenue. \u003c/p\u003e\u003cp\u003e“Despite reducing headcount in each quarter of 2023 and bringing costs down both sequentially and year over year, expenses are still high when compared to our efficiency target and we are working to bring expenses down further,” Expeditors CFO Bradley Powell said in a Feb. 20 statement accompanying the company’s full-year results. “Even though compensation, our largest and most variable expense, is 20% lower than the same quarter a year ago, just about everything else is more expensive. We are not as efficient as we need to be for the current environment of excess capacity, weak demand, soft rates and economic uncertainty.” \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Eric Johnson at \u003ca href=\"mailto:eric.johnson@ihsmarkit.com\"\u003eeric.johnson@spglobal.com\u003c/a\u003e.\u003c/i\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003ctable\u003e\u003ccolgroup\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003c/colgroup\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd colspan=\"12\"\u003e\u003cp\u003e\u003ctable\u003e\u003ctgroup\u003e\u003ccolspec\u003e\u003c/colspec\u003e\u003cthead\u003e\u003crow\u003e\u003centry\u003e \t\t\t\t\t\tJournal of Commerce Top 40 Global Third-Party Logistics Providers (3PLs) \t\t\t\t\t\t\u003c/entry\u003e\u003c/row\u003e\u003c/thead\u003e\u003ctbody\u003e\u003crow\u003e\u003centry\u003eAnnual revenue, primarily from non-asset third-party logistics services, in millions of US dollars\u003c/entry\u003e\u003c/row\u003e\u003c/tbody\u003e\u003c/tgroup\u003e\u003c/table\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003c/div\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003ctable\u003e\u003ccolgroup\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003c/colgroup\u003e\u003cthead\u003e\u003ctr\u003e\u003cth\u003e\u003cp\u003eBase \t\t\tCountry\u003c/p\u003e\u003c/th\u003e\u003cth\u003e\u003cp\u003e2022 \t\t\trevenue\u003c/p\u003e\u003c/th\u003e\u003cth\u003e\u003cp\u003e2023 \t\t\trevenue\u003c/p\u003e\u003c/th\u003e\u003cth\u003e\u003cp\u003eYOY % \t\t\tGrowth\u003c/p\u003e\u003c/th\u003e\u003cth\u003e\u003cp\u003e2023 \t\t\trank\u003c/p\u003e\u003c/th\u003e\u003cth\u003e\u003cp\u003eCompany\u003c/p\u003e\u003c/th\u003e\u003c/tr\u003e\u003c/thead\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd colspan=\"6\"\u003e\u003cp\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e1\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eAmazon\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$117,716\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$140,053\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e19.0%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e2\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eDHL\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eGermany\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$49,047\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$41,357\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-15.7%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e3\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eKuehne+Nagel\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eSwitzerland\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$45,066\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$29,659\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-34.2%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e4\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eDSV Panalpina\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eDenmark\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$33,298\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$23,063\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-30.7%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e5\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eDB Schenker\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eGermany\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$29,711\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$20,654\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-30.5%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e6\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eC.H. Robinson\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$23,516\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$17,596\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-25.2%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e7\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eNippon Express\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eJapan\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$18,092\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$15,499\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-14.3%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e8\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eCEVA Logistics\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eSwitzerland\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$12,000\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$15,210\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e26.8%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e9\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eSinotrans\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eChina\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$15,928\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$14,062\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-11.7%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e10\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eMaersk\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eDenmark\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$14,423\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$13,916\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-3.5%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e11\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eJB Hunt\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$13,732\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$13,619\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-0.8%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e12\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eUPS\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$16,431\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$11,461\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-30.2%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e13\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eGXO Logistics\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$8,993\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$9,778\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e8.7%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e14\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eRhenus \u0026amp; Co.\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eGermany\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$7,360\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$9,305\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e26.4%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e15\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eExpeditors International\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$17,071\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$9,300\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-45.5%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e16\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eKintetsu World Express\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eJapan\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$8,011\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$7,693\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-4.0%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e17\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eTQL\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$8,848\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$6,686\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-24.4%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e18\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eKerry Logistics\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eHong Kong\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$12,268\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$6,467\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-47.3%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e19\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eUber Freight/Transplace\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$6,947\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$5,245\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-24.5%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e20\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eWorldwide Express/Global Tranz\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$5,040\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$5,160\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e2.4%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e21\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eBolloré\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eFrance\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$7,477\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$5,032\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-32.7%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e22\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eNYK Group \u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eJapan\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$7,883\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$4,931\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-37.4%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e23\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eRyder\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$4,720\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$4,875\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e3.3%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e24\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eBDP International\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$5,600\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$4,780\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-14.6%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e25\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eSamsung SDS\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eSouth Korea\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$8,719\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$4,308\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-50.6%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e26\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eHub Group\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$5,332\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$4,203\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-21.2%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e27\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eRXO Logistics\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$4,796\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$3,927\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-18.1%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e28\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eEcho Global Logistics\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$4,250\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$3,600\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-15.3%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e29\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eFedEx Supply Chain\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$4,570\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$3,435\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-24.8%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e30\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eSchneider National\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$3,608\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$3,343\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-7.3%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e31\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eToll Group\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eAustralia\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$4,524\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$3,259\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-28.0%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e32\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eCJ Logistics\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eSouth Korea\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$3,920\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$3,219\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-17.9%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e33\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eMainfreight\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eNew Zealand\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$2,990\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$3,150\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e5.3%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e34\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eMODE Transportation\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$3,400\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$3,000\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-11.8%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e35\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eID Logistics\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eFrance\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$2,638\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$2,973\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e12.7%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e36\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003ePantos\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eSouth Korea\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$3,924\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$2,840\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-27.6%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e37\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eNFI Industries\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$2,800\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$2,685\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-4.1%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e38\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eHitachi Transport\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eJapan\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$2,861\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$2,490\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-13.0%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e39\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003ePenske Logistics\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eUS\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$2,100\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$2,150\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e2.4%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e40\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003eSankyu\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eJapan\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$2,522\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e$2,048\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e-18.8%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd colspan=\"3\"\u003e\u003cp\u003e\u003cb\u003eTop 40 Global 3PLs\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003e$552,131\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003e$486,031\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cb\u003e-12.0%\u003c/b\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003c/div\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003ctable\u003e\u003ccolgroup\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003ccol\u003e\u003c/col\u003e\u003c/colgroup\u003e\u003cthead\u003e\u003ctr\u003e\u003cth colspan=\"12\"\u003e\u003cp\u003e\u003c/p\u003e\u003c/th\u003e\u003c/tr\u003e\u003c/thead\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd colspan=\"9\"\u003e\u003cp\u003eSource: Company reports and SJ Consulting Group estimates \t\t\tPrepared by SJ Consulting Group, Inc.\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003c/div\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Half of the world’s biggest 3PLs saw revenue decline by 10% or more in 2023. Photo credit: Nightman1965 / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721815630003","Taxonomy":{"MainCategory":[{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"4","Name":"Supply chain","Redirects":[{"Path":"/supply-chain","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Eric Johnson, Senior Technology Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1711467948000","TitlePlainText":"Journal of Commerce Rankings: 3PLs struggle with post-pandemic sugar high","Published":true,"Redirects":[{"Path":"/article/journal-of-commerce-rankings-3pls-struggle-with-post-pandemic-sugar-high-5234331","__typename":"Redirect"},{"Path":"/article/journal-commerce-rankings-3pls-struggle-post-pandemic-sugar-high_20240326.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe top end of the global 3PL sector is populated by companies that see a down market as a chance to focus on higher-yield customers and those that see a chance to build market share. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The top end of the global 3PL sector is populated by companies that see a down market as a chance to focus on higher-yield customers and those that see a chance to build market share.","__typename":"Document"},{"Id":"5244502_JournalOfCommerce","Attachments":[{"FileName":"5244505_1.0.jpg","FileType":"FeatureImage","Title":"3687754_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eA subsidiary of Mediterranean Shipping Co. has reached an agreement with Paris-listed Clasquin Group to acquire a controlling stake in the French air and ocean forwarder and will launch a tender for the remaining shares later this year. \u003c/p\u003e\u003cp\u003eThe exclusive bid made in early December by MSC’s SAS Shipping Agencies Services for the 42% stake in Clasquin held by its chairman Yves Revol and his company Olymp was accepted last week. \u003c/p\u003e\u003cp\u003eThe offer of €142.03 per share ($154) gave the 42% stake an enterprise value of €325 million and represented a premium of 13.7% over the current market price and a 59.94% premium on the closing price when the offer was made in early December. Subject to regulatory clearance, the share sale will be completed by the end of 2024. \u003c/p\u003e\u003cp\u003e“SAS will thereafter file a tender offer ... for the remaining shares in the capital of Clasquin, at the same price of €142.03 per share,” Clasquin said in a statement. \u003c/p\u003e\u003cp\u003eBased on Clasquin’s 2023 results, the takeover will add 260,716 TEUs of ocean freight and 70,452 tons of air cargo to the MSC subsidiary’s annual volume. The French forwarder reported a 36% year-over-year drop in 2023 revenue to €562 million, while net profit of €18.3 million was down 16.2% compared with 2022. \u003c/p\u003e\u003cp\u003eThe acquisition of Clasquin continues a spending spree by MSC as it \u003ca href=\"https://www.joc.com/article/msc-bid-french-forwarder-extends-carriers-recent-buying-spree_20231206.html\"\u003eaggressively expands its port and logistics capability in key markets\u003c/a\u003e such as Europe. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@spglobal.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"French forwarder Clasquin handled more than 260,000 TEUs in 2023. Photo credit: Fotokon / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721741418567","Taxonomy":{"MainCategory":[{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1711375020000","TitlePlainText":"MSC unit secures takeover of French forwarder Clasquin","Published":true,"Redirects":[{"Path":"/article/msc-unit-secures-takeover-of-french-forwarder-clasquin-5244502","__typename":"Redirect"},{"Path":"/article/msc-unit-secures-takeover-french-forwarder-clasquin_20240325.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe acquisition will add significant volume of air and ocean cargo to the MSC subsidiary and extend its reach into European markets. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The acquisition will add significant volume of air and ocean cargo to the MSC subsidiary and extend its reach into European markets.","__typename":"Document"},{"Id":"5222139_JournalOfCommerce","Attachments":[{"FileName":"5222144_1.0.jpg","FileType":"FeatureImage","Title":"3687729_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eAsia-Europe sea-air hubs are booming as shippers with urgent cargo take the multimodal approach to avoid the extended transit times from vessels sailing around southern Africa. \u003c/p\u003e\u003cp\u003eAir cargo volumes from Dubai to Europe in the past week were up 7% from the previous week and more than 200% higher than this time last year, according to data from air freight analyst WorldACD. \u003c/p\u003e\u003cp\u003e“Certain key Asia-Europe sea-air hubs such as Dubai, Colombo and Bangkok have experienced exceptionally high air cargo demand to Europe since the start of this year, in large part linked to the disruptions to Asia-Europe container shipping caused by the \u003ca href=\"https://www.joc.com/article/red-sea-attacks-reset-gameplan-container-shipping-2024_20240117.html\"\u003eattacks on vessels in the Red Sea\u003c/a\u003e,” the Netherlands-based analyst said Friday. \u003c/p\u003e\u003cp\u003eDubai continues to be one of the more popular destinations for European importers with time-sensitive cargo, with the airport able to covert ocean freight transferred from Jebel Ali seaport to air cargo in 24 hours. \u003c/p\u003e\u003cp\u003e“Dubai-Europe tonnages have been particularly strong, at more than double their level in recent weeks compared with this time last year, and the continuing surge in week 10 indicates this trend is showing no signs of weakening four weeks on from the Lunar New Year,” WorldACD noted. \u003c/p\u003e\u003cp\u003eThe sea-air option through Dubai saves up to 40% compared with direct air freight transport from Asia and is faster than ocean. \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"5889defd-d63e-41a2-841f-95aa03e3c663\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eOther sea-air trade lanes are also reporting a strong rise in volume. Bangkok-Europe demand was up by more than 30% year over year in the past week, boosted by road-air volume trucked down from Vietnam and other origins in the region. \u003c/p\u003e\u003cp\u003eWorldACD noted that the surge in Colombo-Europe demand appears to be softening but remains up 20% year over year and has risen 80% since mid-February. \u003c/p\u003e\u003cp\u003eAir freight charter operators are also reporting a surge in business since ocean carriers diverted around the Cape of Good Hope.\u003c/p\u003e\u003cp\u003e“The Red Sea attacks are causing a lot of time-sensitive traffic to switch to airfreight,” Neo Air Charter general manager Brian Davis said in a statement Friday. “We haven’t seen demand like this since the early days of COVID,” he added. \u003c/p\u003e\u003ch2\u003e‘Booming’ e-commerce drives capacity push \u003c/h2\u003e\u003cp\u003eFrom a global perspective, air freight volume increased 11% year over year in both January and February with rates continuing to trend upward even through the traditional post-Lunar New Year market slowdown, according to Niall van de Wouw, chief air freight analyst for Xeneta. \u003c/p\u003e\u003cp\u003e“It’s a surprising start to the year from a volume perspective, and not something people would have expected, ourselves included, with demand much higher than it was a year ago,” van de Wouw said in a statement, adding that it was unusual to see rates increasing at this time of year. \u003c/p\u003e\u003cp\u003e“This is likely related to the Red Sea disruption, but this is not the only factor,” he added. “Trends indicate \u003ca href=\"https://www.joc.com/article/surging-e-commerce-demand-lifts-hong-kong-air-cargo-peak-season_20231222.html\"\u003emore consumers are buying on e-commerce platforms\u003c/a\u003e and the intercontinental nature of these businesses, as well as the speed with which they are expected to deliver, is benefiting air cargo.” \u003c/p\u003e\u003cp\u003eVan de Wouw said e-commerce now makes up over 50% of the revenue from East Asia for some air cargo carriers. \u003c/p\u003e\u003cp\u003eForwarders in China report large e-commerce platforms or marketplaces such as JD.com, Alibaba, Shein or Temu buying up huge amounts of air freight space out of China to North America, which has kept rates elevated. \u003c/p\u003e\u003cp\u003e“The booming e-commerce sector is continuing to help air cargo demand to trend above growth in both trade and production since the last quarter of 2023,” Willie Walsh, secretary-general of the International Air Transport Association (IATA), said in a statement on the latest air freight data. \u003c/p\u003e\u003cp\u003eAverage air cargo spot rates from Shanghai to North America this week reached $4.55 per kilogram, up 7% from last week, according to the Baltic Air Index (BAI), despite air freight capacity rising steadily as increasing long-haul passenger travel adds below deck cargo space. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@spglobal.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Air cargo volumes from Dubai to Europe were up more than 200% year over year in the past week. Photo credit: Fasttailwind / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721738176510","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"37","Name":"Asia-Europe","Redirects":[{"Path":"/maritime/container-shipping-news/asia-europe","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1710519275000","TitlePlainText":"Demand soars for Asia-Europe sea-air option to avoid longer Africa transit","Published":true,"Redirects":[{"Path":"/article/demand-soars-for-asia-europe-sea-air-option-to-avoid-longer-africa-transit-5222139","__typename":"Redirect"},{"Path":"/article/demand-soars-asia-europe-sea-air-option-avoid-longer-africa-transit_20240315.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eDubai continues to be one of the more popular destinations for European importers with time-sensitive cargo, with the airport able to covert ocean freight to air cargo in 24 hours.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Dubai continues to be one of the more popular destinations for European importers with time-sensitive cargo, with the airport able to covert ocean freight to air cargo in 24 hours.","__typename":"Document"},{"Id":"5222288_JournalOfCommerce","Attachments":[{"FileName":"5222303_1.0.jpg","FileType":"FeatureImage","Title":"3687596_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eMaersk on Monday launched a tool that lets Indian shippers book air cargo space on more than 70,000 origin-destination pairs, a sign of the carrier’s continued intent to offer integrated logistics solutions by pushing further into air freight. \u003c/p\u003e\u003cp\u003eThe tool, offered through the Maersk.com website, gives shippers instant pricing and capacity to and from more than 90 countries. Maersk said it can connect the booking and quoting capability to its distribution network in India, which reaches 80% of the country’s postal codes. \u003c/p\u003e\u003cp\u003eShippers can also tack on customs clearance and cargo visibility service through the online portal. \u003c/p\u003e\u003cp\u003e“Manufacturing has truly diversified with global value chains,” Darryl Judd, head of air freight for Maersk in the Indian Subcontinent, Middle East and Africa, said in a statement. “We are noticing that customers sitting in one part of the world need to move raw material from origin to destination without being at either of the locations.” \u003c/p\u003e\u003cp\u003eThe move by Maersk to simplify air freight pricing and booking for shippers in India is part of a broader move in the air freight industry to digitize processes once handled offline by forwarders. A number of providers, including Freightos-owned Webcargo, cargo.one and CargoAI offer booking platforms to forwarders and shippers that take advantage of the increased availability of booking and quoting application programming interfaces (APIs) from cargo airlines. \u003c/p\u003e\u003cp\u003eThose platforms enable forwarders to allow shippers to choose specific flights akin to the way consumers would choose a specific passenger flight on a particular airline. Traditionally, bookings have been made with forwarders via email, telephone or one-to-one messaging tools, depending on the region. \u003c/p\u003e\u003cp\u003eThe ability to tether additional services, whether Maersk’s basket of logistics and fulfillment services or third-party tools such as payment or cargo insurance, is enabled by the digital aspect of the transaction. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Eric Johnson at \u003ca href=\"mailto:eric.johnson@ihsmarkit.com\"\u003eeric.johnson@spglobal.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Maersk’s offering is part of a broader evolution in the market that has seen air freight quoting and booking digitized through third-party platforms. Photo credit: Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721815683220","Taxonomy":{"MainCategory":[{"Id":"17","Name":"Logistics Technology News","Redirects":[{"Path":"/supply-chain/logistics-technology-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Eric Johnson, Senior Technology Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1707771677000","TitlePlainText":"Maersk launches online air freight tool targeted at Indian shippers","Published":true,"Redirects":[{"Path":"/article/maersk-launches-online-air-freight-tool-targeted-at-indian-shippers-5222288","__typename":"Redirect"},{"Path":"/article/maersk-launches-online-air-freight-tool-targeted-indian-shippers_20240212.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eMaersk’s integrator strategy has encompassed more access to air freight capacity, including a new tool for shippers in India to digitally price and book specific flights. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Maersk’s integrator strategy has encompassed more access to air freight capacity, including a new tool for shippers in India to digitally price and book specific flights.","__typename":"Document"},{"Id":"5214954_JournalOfCommerce","Attachments":[{"FileName":"5214971_1.0.jpg","FileType":"FeatureImage","Title":"3687537_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eAir cargo rates and demand from Asia to Europe have risen sharply in the past week in what analysts believe is a seasonal export push ahead of the Lunar New Year combined with the Red Sea-driven shift in mode away from ocean. \u003c/p\u003e\u003cp\u003eThe Baltic Air Index (BAI) covering outbound routes from Shanghai was up 8.8% compared to last week, led by an increase in European demand, according to the latest air freight update by TAC, which provides pricing data to the BAI. \u003c/p\u003e\u003cp\u003e“The increase is in line with expectations that rates may spike following disruption to ocean shipping in the Red Sea, though sources also point out that rates often rise in the runup to Chinese New Year,” the TAC said in its update. The Lunar New Year in Asia begins this year on Feb. 10. \u003c/p\u003e\u003cp\u003eChina-North Europe air freight rates rose to $4.02 per kilogram this week, up 13.5% from last week and an increase of 20% compared to the first week of January, according to the BAI. \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"bb0f7e86-323f-4d32-9afb-4e1c08edb460\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eNetherlands-based air cargo analyst WorldACD reported strong demand on the Asia-North Europe corridor. It also said overall global demand in the past two weeks was up 6% year over year despite the 2023 period benefiting from an earlier Lunar New Year and the accompanying annual surge in air cargo traffic ahead of the holiday-related factory closures in China. \u003c/p\u003e\u003cp\u003eBut the analyst pointed to an unanticipated 21% increase in air freight tonnage out of the Middle East and a 12% gain in South Asia volume, which suggested the conversion of some ocean freight into air cargo and sea-air cargo because of the Red Sea security situation. \u003c/p\u003e\u003ch2\u003eUnusual weekly demand \u003c/h2\u003e\u003cp\u003eWhile some analysts were hesitant to link the Red Sea disruption with a rise in air cargo demand, rate benchmarking platform Xeneta drew a direct line between the two. Xeneta noted in an air freight market update this week that the ongoing Red Sea diversions have led to a surge in air cargo volume from Asia and the Middle East to Europe. \u003c/p\u003e\u003cp\u003e“These volumes exceeded the weekly highs of the 2023 peak season for two consecutive weeks in mid-January...this is unusual given the period following the year-end peak season is typically quieter,” Xeneta noted. \u003c/p\u003e\u003cp\u003eThe analyst said short-term air cargo rates were expected to rise further as shippers rushed to transport their goods out of China, South Korea and Vietnam before the week-long Lunar New Year holidays begin. \u003c/p\u003e\u003cp\u003eLavinia Lau, chief customer and commercial officer at Cathay Pacific, said air freight volumes out of Asia would increase through January, but she attributed that to rising demand for e-commerce rather than a shift in cargo from ocean to air. \u003c/p\u003e\u003cp\u003e“We expect demand to steadily pick up from the second half of the month with the e-commerce demand on the Americas and European lanes remaining solid and local demand strengthening up to the Lunar New Year holidays,” Lau said in a statement this week. \u003c/p\u003e\u003cp\u003eAverage rates out of Hong Kong this week rose almost 6% compared to last week, with a 10% increase in rates out of Southeast Asia. The gains were spread across both the European and North American trade lanes, according to the BAI. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@spglobal.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":false,"FeatureImageCopyright":"China-North Europe air freight rates are up 13.5% from last week and 20% compared to the first week of January. Photo credit: Urbanscape / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721762481993","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1706632712000","TitlePlainText":"Pre-Lunar New Year rush, Red Sea disruption boost Asia-Europe air rates, demand","Published":true,"Redirects":[{"Path":"/article/pre-lunar-new-year-rush-red-sea-disruption-boost-asia-europe-air-rates-demand-5214954","__typename":"Redirect"},{"Path":"/article/pre-lunar-new-year-rush-red-sea-disruption-boost-asia-europe-air-rates-demand_20240130.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eA seasonal push to get shipments out of Asia before factories close for the Lunar New Year may be masking a switch to air from disrupted ocean networks. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"A seasonal push to get shipments out of Asia before factories close for the Lunar New Year may be masking a switch to air from disrupted ocean networks.","__typename":"Document"},{"Id":"5241186_JournalOfCommerce","Attachments":[{"FileName":"5241191_1.0.jpg","FileType":"FeatureImage","Title":"3687510_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eForward Air completed its acquisition of Omni Logistics Friday after the expedited surface transportation provider and global freight forwarder reached \u003ca href=\"https://www.joc.com/article/omni-logistics-forward-air-closing-revised-merger-deal_20240123.html\"\u003ean amended merger agreement\u003c/a\u003e. Plans for the merger were announced last August, but were delayed by a series of battles between activist investors, shareholders and the companies themselves. \u003c/p\u003e\u003cp\u003eThe deal will now allow the two companies to integrate their international and North American operations, sending more high-value freight into Forward’s less-than-truckload (LTL) network, Forward Chairman and CEO Tom Schmitt said in a statement Friday. \u003c/p\u003e\u003cp\u003eThe combined company will have approximately $3.5 billion in annual revenue. \u003c/p\u003e\u003cp\u003e“We are now uniquely positioned to be the premier provider of choice in high-quality freight transportation to a larger customer base with an expanded domestic footprint,” Schmitt said. Although the deal brings expanded international services to Forward, it’s the ability to bring more freight into its LTL network that drew the ground-air trucking firm to Omni. \u003c/p\u003e\u003cp\u003eThe amended agreement, announced early this week after \u003ca href=\"https://www.joc.com/article/forward-air-formally-moves-terminate-omni-logistics-merger_20231113.html\"\u003emonths of litigation\u003c/a\u003e, reduces the amount of cash Omni shareholders will receive from $150 million to $20 million. Omni shareholders will also receive slightly less Forward stock than the original agreement would have provided. \u003c/p\u003e\u003cp\u003eWhen it was announced in August, the proposed merger quickly ran into objections from activist investors. Investment analysts raised concerns about integration of disparate services, and shareholders protested terms of the deal that bypassed shareholder approval. \u003c/p\u003e\u003cp\u003eForward’s stock traded at $104.02 per share when the merger was announced Aug. 10; it was trading at $46.67 per share Friday afternoon. \u003c/p\u003e\u003cp\u003eSchmitt has insisted that LTL remains “\u003ca href=\"https://www.joc.com/article/forward-air-looks-hook-high-value-shippers-omni-logistics-deal_20230815.html\"\u003ethe main show\u003c/a\u003e” for Forward, and that Omni would increase volumes in its expedited LTL network. The merger brings Forward into direct contact with Omni shippers, but also raises the specter of competition with other forwarder customers, a risk Schmitt has said the company is addressing. \u003c/p\u003e\u003cp\u003eForward said it would release more information on integration plans, future management and board structure when it releases its fourth-quarter earnings report in February. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact William B. Cassidy at \u003ca href=\"mailto:bill.cassidy@spglobal.com\"\u003ebill.cassidy@spglobal.com\u003c/a\u003e\u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Expedited LTL provider Forward expects Omni will bring high-value freight from an expanded customer base. Photo credit: Forward Air.","__typename":"Metadata"},"ModDate":"1721795005390","Taxonomy":{"MainCategory":[{"Id":"2","Name":"Surface","Redirects":[{"Path":"/surface","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"11","Name":"Trucking News","Redirects":[{"Path":"/surface/trucking-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"46","Name":"LTL","Redirects":[{"Path":"/surface/trucking-news/ltl","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"William B. Cassidy, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1706298505000","TitlePlainText":"Forward, Omni Logistics seal long-awaited deal to merge businesses","Published":true,"Redirects":[{"Path":"/article/forward-omni-logistics-seal-long-awaited-deal-to-merge-businesses-5241186","__typename":"Redirect"},{"Path":"/article/forward-omni-logistics-seal-long-awaited-deal-merge-businesses_20240126.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eWith an amended merger agreement, months of contentious litigation are behind the companies, clearing the way for their combined forwarding and LTL operations. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"With an amended merger agreement, months of contentious litigation are behind the companies, clearing the way for their combined forwarding and LTL operations. ","__typename":"Document"},{"Id":"5244848_JournalOfCommerce","Attachments":[{"FileName":"5244851_1.0.jpg","FileType":"FeatureImage","Title":"3687273_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eAir freight volumes through Hong Kong will continue to grow beyond the end of the traditional peak season, fueled by surging e-commerce demand from North America and Europe that shows no signs of slowing down, according to air cargo executives. \u003c/p\u003e\u003cp\u003eThe online shopping demand has set the world’s busiest air cargo airport on course to handle approximately 4.5 million tons of air cargo this year, up almost 7% on last year, estimates from the Hong Kong Airport Authority show. \u003c/p\u003e\u003cp\u003eChandler So, air freight director for North Asia at French forwarder Geodis, said the peak season was now expected to last for at least the next two months, beyond Lunar New Year in mid-February. \u003c/p\u003e\u003cp\u003e“We think e-commerce has driven a 20% to 25% increase in air cargo demand in Asia this year,” So told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “We started to see air freight volume rise from September and it has continued to grow. There definitely is a peak season rather than just a rise in demand.” \u003c/p\u003e\u003cp\u003eCathay Cargo, the cargo division of Cathay Pacific, has described export volumes through Hong Kong from both the Guangdong-Hong Kong-Macau area and the wider China market as “extremely robust” — driven by e-commerce and dominated by trade to North America and Europe. \u003c/p\u003e\u003cp\u003e“Between 50% to 60% of what we carry is e-commerce-related,” said Tom Owen, director of Cathay Cargo. “Volumes have definitely picked up compared with last year [and] buyers are re-stocking. \u003c/p\u003e\u003cp\u003e“We are significantly ahead in cargo volumes carried this year compared with last year as belly hold passenger aircraft capacity is restored,” Owen told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003eThe Hong Kong-based airline has been operating two charter flights a week to Mexico carrying consumer e-commerce products and is on course to handle about 1.4 million metric tons (mt) this year based on preliminary estimates against 1.1 mt in 2022. \u003c/p\u003e\u003ch2\u003eFreight rate boost \u003c/h2\u003e\u003cp\u003eThe strong air cargo market out of Hong Kong and Shanghai is reflected in freight rates. HSBC wrote in a market update that air freight indices for shipments were up 36% for Hong Kong and 41% for Shanghai by early December compared with the end of the third quarter. \u003c/p\u003e\u003cp\u003e“China's cross-border e-commerce, particularly from Shein and Temu to the US and Europe, is driving a solid peak season for air cargo despite muted business to business volumes,” HSBC noted. \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"72272f17-6eba-46fa-82f5-4e60dd32d234\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eFigures from Netherlands-based air cargo analyst WorldACD indicate that demand and pricing have leveled off “as they usually do” in the second half of December after rallying in the last three months. \u003c/p\u003e\u003cp\u003eThe main driver for the recent increases has been a surge in tonnage and rates ex-Asia Pacific, especially from China, but Asia-Pacific export volume has now started to flatten, the analyst noted. \u003c/p\u003e\u003cp\u003eAverage Shanghai to North America rates assessed by the Baltic Air Index (BAI) this week were $6.75 per kilogram, down 3% from last week when the rate was at its highest level since September 2022. \u003c/p\u003e\u003ch2\u003eInvestment pouring in \u003c/h2\u003e\u003cp\u003eWith no end in sight to e-commerce demand growth, forwarders are pouring huge investment into Hong Kong’s terminal handling infrastructure to support the rising volume. \u003c/p\u003e\u003cp\u003eCainiao, the logistics affiliate of online trading platform Alibaba, opened a 12-story, 4.1-million-square-foot warehouse at Hong Kong airport in October to handle e-commerce shipments. DHL expanded its central Asia express cargo hub at Hong Kong in the fall with a total investment of $618 million. At full capacity, the hub can handle just over 1 million mt of cargo. \u003c/p\u003e\u003cp\u003eSuch investment was crucial as the e-commerce business was evolving separately from the traditional air cargo market and creating year-round demand for air freight, according to So. \u003c/p\u003e\u003cp\u003e“When e-commerce first started, it was online retailers responding to customer orders for goods,” he said. “Those retailers have evolved to become more tech-savvy, analyzing and harnessing big data to induce more consumer demand through targeted campaigns and promotions. We see this segment of induced demand increasing air freight volumes by up to 30% a year, which is a tremendous increase in volume.” \u003c/p\u003e\u003cp\u003eIn the longer term, executives believe economic growth in the Greater Bay area encompassing Guangdong, Hong Kong and Macau will be stimulated by investment in terminal infrastructure and by Hong Kong’s three-runway system that will become fully operational in early 2024. \u003c/p\u003e\u003cp\u003eCathay Pacific and the Hong Kong Airport Authority teamed up in October to launch a pilot bonded sea-air cargo service from an authority-run logistics park at Dongguan, about 60 miles north of Hong Kong, to Hong Kong International Airport. \u003c/p\u003e\u003cp\u003e“When we first started, there were two or three sailings a week. Now there are 12 to 14 sailings a week,” said Ian Kwok, general manager for aviation logistics at the Hong Kong Airport Authority. \u003c/p\u003e\u003cp\u003eKwok said the logistics park is part of the authority’s blueprint to lure more air cargo from southern China to meet the airport’s target of 10 million tons of air freight by 2035. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Keith Wallis at \u003ca href=\"mailto:keithwallis@hotmail.com\"\u003ekeithwallis@hotmail.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Keith Wallis, Special Correspondent","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Up to 60% of Cathay Cargo’s volume is e-commerce related, according to the Hong Kong-based carrier. Photo credit: Cathay Pacific.","__typename":"Metadata"},"ModDate":"1721742798907","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1703259600000","TitlePlainText":"Surging e-commerce demand lifts Hong Kong air cargo into peak season","Published":true,"Redirects":[{"Path":"/article/surging-e-commerce-demand-lifts-hong-kong-air-cargo-into-peak-season-5244848","__typename":"Redirect"},{"Path":"/article/surging-e-commerce-demand-lifts-hong-kong-air-cargo-peak-season_20231222.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eOnline shopping in North America and Europe has generated huge air freight volume out of China, with demand expected to continue past the Lunar New Year in February.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Online shopping in North America and Europe has generated huge air freight volume out of China, with demand expected to continue past the Lunar New Year in February.","__typename":"Document"},{"Id":"5234411_JournalOfCommerce","Attachments":[{"FileName":"5234412_1.0.jpg","FileType":"FeatureImage","Title":"3687153_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe highest air cargo rates of the year from Asia to North America and Europe are riding not on demand, but on constrained capacity due to weather disruptions and too little belly capacity on the China-United States leg, according to Netherlands-based air freight analyst WorldACD. \u003c/p\u003e\u003cp\u003eAsia-North America rates rose 7% even as volume dropped 2%, and the spot rate to Europe was up 7%, although with a 4% increase in tonnage, the analyst noted in its latest weekly update. \u003c/p\u003e\u003cp\u003e“That Asia Pacific to North America rates are up significantly despite a fall in tonnages may reflect several factors, including operational disruptions caused by severe snow at Alaska’s Anchorage Airport and continuing limits on passenger belly hold capacity between China and the US,” the analyst said. \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"0576d6ac-94e2-41f3-ae13-b99891d290af\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eAir freight capacity on the trans-Pacific has yet to return at the same pace as on other corridors, largely because China only emerged from its lockdowns in January of 2023. Forwarders say booming e-commerce demand has seen \u003ca href=\"https://www.joc.com/article/no-vacancy-signs-trans-pacific-e-commerce-demand-absorbs-air-cargo-capacity_20231027.html\"\u003eChinese online shopping platforms buying up as much as 70% of the available air freight capacity\u003c/a\u003e on China-US routes, and with passenger planes full as travel rebounds, cargo is competing with baggage for tight below-deck space in aircraft bellies. \u003c/p\u003e\u003cp\u003eCloser analysis of WorldACD data showed even greater rate increases from certain Chinese origins over the past two weeks, with rates to North America up 11% and up 9% to Europe. Ex-Hong Kong rates to the US were up 7% since early November, and up 3% to Europe. \u003c/p\u003e\u003cp\u003eThe average spot rate from Shanghai to North America this week was at $5.94 per kilogram, a level not seen since Jan. 2, while the Shanghai-North Europe rate of $4.64/kg was the highest since Feb. 6, according to the Baltic Air Index. \u003c/p\u003e\u003ch2\u003eStill no sign of peak season \u003c/h2\u003e\u003cp\u003eBut with high inflation in destination markets of the US and Europe, high mortgage rates and a steadily rising cost of living, there is little to suggest increasing rates mean air cargo is on course for its traditional last-quarter peak season. \u003c/p\u003e\u003cp\u003eNiall van de Wouw, chief air freight officer at rate benchmarking platform Xeneta, said in a report Monday that the market has set a new rate baseline after the rollercoaster of the past three years and he expected seasonal demand patterns to emerge in 2024. \u003c/p\u003e\u003cp\u003e“Yes, we will see a return of classic seasonality, but it will be muted seasonality,” van de Wouw noted in the Xeneta Air Freight Outlook 2024 that highlighted muted consumer spending as a key factor for the year ahead. Demand for air freight in 2023 remains down by 8% compared with pre-pandemic levels and is only predicted to grow by 1% to 2% in 2024, while capacity will grow by 2% to 4%. \u003c/p\u003e\u003cp\u003e“The key indicators are not great from a demand point of view,” he added. “People and companies are a bit more conscious how they are spending their money and we will likely not see demand pick up in any meaningful way in 2024.” \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"ee9a6c83-d70e-42f2-abfc-952d09e1c99c\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eXeneta noted in a recent air freight market update that October data from the S\u0026amp;P Global Eurozone Manufacturing Purchasing Managers’ Index — regarded as a leading indicator of air freight — and high inflation in the US reinforced its view that there will be no peak season this year. \u003c/p\u003e\u003cp\u003e“While spot rates will increase due to reduced belly capacity during winter, they will be impacted less by demand for air cargo,” Xeneta noted, adding that improving schedule reliability and lower rates in ocean freight shipping were also having an effect in drawing cargo out of the air. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@spglobal.com\u003c/a\u003e.\u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Air cargo capacity on the trans-Pacific has yet to return to pre-pandemic levels. Photo credit: Sport car hub / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721805750513","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1701093564000","TitlePlainText":"Asian air freight stages US, Europe rate surge in November","Published":true,"Redirects":[{"Path":"/article/asian-air-freight-stages-us-europe-rate-surge-in-november-5234411","__typename":"Redirect"},{"Path":"/article/asian-air-freight-stages-us-europe-rate-surge-november_20231127.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eBut rising air cargo rates on the major Asian export trade lanes do not portend a peak season this year with analysts pointing to poor economic conditions exerting strong downward pressure on consumers in the US and Europe.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"But rising air cargo rates on the major Asian export trade lanes do not portend a peak season this year with analysts pointing to poor economic conditions exerting strong downward pressure on consumers in the US and Europe.","__typename":"Document"},{"Id":"5220543_JournalOfCommerce","Attachments":[{"FileName":"5220545_1.0.jpg","FileType":"FeatureImage","Title":"3687053_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eAMSTERDAM — Air cargo space on the China to North America trade is in short supply as strong e-commerce demand outstrips the slow return of passenger flights and the essential belly cargo capacity they add to eastbound routes. \u003c/p\u003e\u003cp\u003eThe tight space has seen the rate on China-North America rising 15% in the first three weeks of October to its current level of $5.42 per kilogram, according to the Baltic Air Freight Index (BAI). \u003c/p\u003e\u003cp\u003eLoad factors on the trans-Pacific out of China were at 89% in the first two weeks of October, which means the available space on the trade lane is essentially full, according to Wenwen Zhang, air cargo analyst at rate benchmarking platform Xeneta. \u003c/p\u003e\u003cp\u003e“The load factor is at the same level seen at the peak of the pandemic when capacity was very limited, and with available capacity so short, any sudden increase in demand will see space squeezed very quickly,” she told the Xeneta Summit in Amsterdam this week. \u003c/p\u003e\u003cp\u003eThe lack of space out of China was highlighted by air cargo industry executives on a panel at the Xeneta event, with Peter Penseel, COO for air freight at CEVA Logistics, attributing the capacity shortage to booming demand for e-commerce. \u003c/p\u003e\u003cp\u003e“The major e-commerce companies in China are buying up space and buying aircraft, and today 60 to 70% of the available air cargo space out of China to North America is occupied by e-commerce,” he said. \u003c/p\u003e\u003cp\u003eAlibaba’s Tmall Global is the largest B2C cross-border e-commerce platform in China, with JD.com the largest online retailer in China. November online shopping promotions are looming and much of the available air cargo space will go towards moving sales from China’s Nov. 11 “Singles Day,” and Black Friday and Cyber Monday in the US. \u003c/p\u003e\u003cp\u003e“On the passenger side, Chinese airlines have 12 flights a week, where pre-pandemic they would be doing 12 to 20 a day,” Penseel said. “With the majority of the lower-deck passenger belly cargo network occupied by those e-commerce companies, it creates a shortage, and that will continue until the full passenger network is back.” \u003c/p\u003e\u003cp\u003eA further constraint is that available passenger flights are all operating fully occupied, so much of the belly space is filled with baggage; Penseel said that means instead of loading 14 pallets on a Boeing 777, forwarders can only load 11. \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"fd071a60-a8be-40d8-9525-f7caed6fcb33\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eRobert van de Weg, CCO at ECS Group, one of the world’s largest general sales agents for air cargo, told attendees at the summit that just a month ago no one was predicting a peak season on the trans-Pacific. \u003c/p\u003e\u003cp\u003e“But right now, if you try to book a plane from China to the US, you will find it very difficult,” he said. “There are a lot of people stuck that don’t have BSAs [block space agreements] as they were making a lot of money over the past seven or eight months on the spot market.” \u003c/p\u003e\u003ch2\u003eFreighters in for bumpy ride \u003c/h2\u003e\u003cp\u003eWhile passenger airlines bank their profits from resurging international travel, the market for freighter operators on trade lanes out of Asia is one of growing concern. \u003c/p\u003e\u003cp\u003e“Airlines have deep pockets after COVID-19 and will not make any drastic decisions, but if there is a very poor Q1 and Q2 [2024], you will see a big impact on freighter capacity with these aircraft being parked,” van de Weg warned. \u003c/p\u003e\u003cp\u003e“There will be tendency for capacity to go out because on some routes like the North Atlantic, with the yields that we’ve been seeing, you can’t operate a B747 freighter back and forth,” he added. “It may be possible in some niche business, but technically, you cannot do it. It’s not feasible, and you will be losing money. The question is only how long you want to do it.” \u003c/p\u003e\u003cp\u003eNiall van de Wouw, chief air freight analyst at Xeneta, said it has been difficult to operate a profitable freighter network for the past 20 years. \u003c/p\u003e\u003cp\u003e“You can’t do anything about your fixed costs — your fuel and the cost of your airplane,” he said. “If the rates remain at the current level, it is very difficult to have a profitable freighter rotation.” \u003c/p\u003e\u003cp\u003eVan de Wouw said ultimately, that would lead to rate increases as airlines cut flights to rationalize their networks. “Because, in the end, airlines need some kind of cushion in order to operate and history has shown the market is willing to pay,” he said. \u003c/p\u003e\u003cp\u003eWhile rates have popped in recent weeks, the average Shanghai-North America spot market rate from January through September was $4.80/kg, down from $8.45/kg during the same period last year, according to the BAI. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@spglobal.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Editor Europe","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Load factors on air cargo routes out of China are at 89%, which is essentially full. Photo credit: Markus Mainka / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1721822758317","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1698418300000","TitlePlainText":"‘No vacancy’ signs up on trans-Pacific as e-commerce demand absorbs air cargo capacity","Published":true,"Redirects":[{"Path":"/article/no-vacancy-signs-up-on-trans-pacific-as-e-commerce-demand-absorbs-air-cargo-capacity-5220543","__typename":"Redirect"},{"Path":"/article/no-vacancy-signs-trans-pacific-e-commerce-demand-absorbs-air-cargo-capacity_20231027.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eA month ago, no one was predicting a peak season for air cargo on the trans-Pacific, but finding space from China to the US has become difficult as e-commerce demand heats up.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"A month ago, no one was predicting a peak season for air cargo on the trans-Pacific, but finding space from China to the US has become difficult as e-commerce demand heats up.","__typename":"Document"}],"isError":false,"pageType":1,"horizontalProms":[{"Id":"6fd7d8c6-c7b6-4e45-b088-acbc93a4175c","Name":"Upgrade Subscription - Wide Box","Description":"Upgrade Subscription - Wide Box","Body":"Use code BF24W695 at checkout and upgrade to Gold for just $695! 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Gold ","Description":"20% discount to TPM for Gold subscribers","Body":"20% OFF ON TPM25: Register today and redeem your Gold subscriber discount!","Title":"20% OFF ON TPM25","PromotionType":"OFFERBOX","ButtonLink":"https://events.joc.com/tpm/index.html","ButtonOpenInNewWindow":true,"ButtonText":"Register Now","CardLink":"","Icon":null,"Published":true,"PublishingStart":"1726837583122","PublishingEnd":"1740805140122","SubscriberLevel":["Gold"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"},{"Id":"202c6142-401f-4589-8552-3ebb76864e5d","Name":"Subscribe Now - Anonymous - Offer Box","Description":"Subscribe Now - Anonymous - Offer Box","Body":"BLACK FRIDAY SALE: Use code BF24W25 at checkout to save 25% on any annual plan!","Title":"Subscribe Today","PromotionType":"OFFERBOX","ButtonLink":"https://joc.com/subscription/choose-plan?utm_source=joc\u0026utm_medium=offer_box\u0026utm__campaign=subscribe_anonymous","ButtonOpenInNewWindow":false,"ButtonText":"Save Now","CardLink":"","Icon":null,"Published":true,"PublishingStart":"1699267280629","PublishingEnd":"1735685999629","SubscriberLevel":["Free"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"}],"nativeAdvertising":[{"Id":"5994e1c1-333c-462d-a230-0e63dd01a9b8","Title":"Shippers save money, time with automated transportation bidding tools","ContentBody":"\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThe world of LTL is slow to embrace change. Business anachronisms permeate current supply chain processes. These vestiges of the way things used to work define the LTL freight transportation procurement process of many modern shippers.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eDavid Knuth, logistics specialist at IEWC, a global supplier of cable and wire based in Wisconsin, is happy to have modernized the RFP process, automating the entire LTL bidding procedure with Bid$ense, SMC³’s automated truckload and LTL freight transportation sourcing solution. But when prompted, he can still recall what once was.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIn his previous job, a large part of his duties were consumed by creating an intermodal bid package for carriers. In a spreadsheet, Knuth detailed the company’s volumes lane by lane, taking care to delete any errant keystrokes or misleading data. He would then email out the information to each carrier, taking time to respond to detailed technical questions about the spreadsheet data. Finally, he had to compile all the results, create an algorithm that would compare the carriers on each lane, and award the business.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e“It was a huge undertaking. It took about four months to do,” Knuth said of the old process. “It was almost a full-time job for that part of the year, every year.”\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIn his new job at IEWC, he sat down with Bid$ense on day one and was amazed at the capabilities. Knuth had never before used a bid tool. SMC³’s latest versions of Bid$ense automate the process even further, taking truckload and LTL RFPs entirely online. The tool draws on RFP best-practices protocols to streamline the bidding communication process, enabling bidding carriers to respond accurately and promptly to shipper requests. The solution also does all the distribution work automatically, electronically submitting shipper bid data to carriers based on their actual service capabilities and performance records. Carriers are alerted with timely prompts for RFP deliverables, so shippers aren’t waiting by the phone for responses.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eAnother benefit of automating the process is the data-cleansing assistance. When Knuth sent spreadsheets to carriers, data errors might cloud the bidding process; he might have to resend data or simply accept a price that did not truly reflect the costs of doing business. Data cleansing is incredibly beneficial, he said.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThe spreadsheet technique also made bidding analysis an onerous task. Since Bid$ense automates and streamlines the entire RFP process, intensive examination is now simple. SMC³ knows that each bid has more than one best outcome. With uniform responses from each carrier, shippers can quickly rank results and create an unlimited quantity of what-if scenarios to make the optimal procurement decision.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eJesse Burnett of Central Garden \u0026amp; Pet experiences many of the same benefits. Founded in 1980, Central Garden \u0026amp; Pet has spent the last three decades growing from a small garden supply company to a provider of a range of products from dog chews and bird seed to soil supplements and natural insecticides. For much of its life, the company shipped these disparate goods via LTL and truckload carriers to retailers throughout the country, relying on each business unit to negotiate directly with their freight transportation providers. This arrangement worked fairly well for a small company, but as Central Garden \u0026amp; Pet expanded, leadership decided to consolidate decision making.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eBurnett helped centralize the transportation decision making in 2015 with SMC³’s Bid$ense. Before Bid$ense, every business unit operated independently as far as negotiating with carriers.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e“There were a lot of different things just floating around,” he said. “We didn’t have master agreements in place; no national pricing at all. The pricing from carriers was just all over the place, depending on where you were.”\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThe transformations he saw with Bid$ense were immediate. Burnett has been using the tool about every other year since its implementation at the company. Central Garden and Pet’s $19.6 million 2019 LTL bid saved the company just more than 9 percent when compared to its historical average. For Burnett, though, bid automation extends far beyond savings.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e“We knew that we weren’t getting the best pricing offer from our carriers just because nothing was centralized,” he continued. “We knew that if we combined everything from all these business units and paired it with one corporate offering, then it would drive some cost benefit with it.”\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eWhen the company initially decided to centralize bid procurement, executives researched a number of different methodologies and technologies. In the end, though, Burnett found that Bid$ense was both widespread and well known, and that his carrier partners already knew how to use the application. Burnett also highlighted the data-cleansing process as a major benefit, saying the rigorous process ensures that carriers always return the best price.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e“It definitely has helped drive savings,” he said. “Any time you go out there and you drive that competitiveness with the carriers and they know they’re in a bid environment, it seems to sharpen their pencils.”\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eTransportation procurement is an integral part of the modern supply chain. With Bid$ense, shippers can develop a strategic implementation plan that saves them time and money, but also helps them create strong relationships with their carrier partners. These carriers appreciate the solution’s data-cleansing process; when carriers receive a complete shipment history and future volume forecast, they don’t have to guess on pricing. Carriers that receive more data from shippers get a complete picture of that shipper’s freight, allowing them to accurately plan instead of simply preparing for the worst-case scenario. Clean data presented through an automated system can lead to both bigger shipment savings and a lasting partnership between carrier and customer.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eWhether customers are looking to streamline over-the-road transportation bidding by automating the RFP process or create an entirely new, centralized sourcing process, Bid$ense has the analytical horsepower to get the job done.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eSMC³ 2020 Customer Case Study\u003c/span\u003e\u003c/p\u003e","Author":"Sponsored by SMC3","PhotoCutline":"Photo Credits: Shutterstock","FeatureImageId":"5a250a9a-79d5-4e11-99a9-055c34871cc2","FeatureImage":{"Id":"5a250a9a-79d5-4e11-99a9-055c34871cc2","Name":"SMC3rates_shutterstock_5247046.jpg","Path":"/content-assets/1724062812611_SMC3rates_shutterstock_5247046.jpg","__typename":"File"},"Taxonomy":{"Id":"46","Name":"LTL","Redirects":[{"Path":"/surface/trucking-news/ltl","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},"Redirects":[{"Path":"/shippers-save-money-time-with-automated-transportation-bidding-tools-5994e1c1","__typename":"Redirect"}],"EntityMetadata":{"CreatedAt":"1724062819729","__typename":"EntityMetadata"},"__typename":"PartnerContent"},{"Id":"92549aa6-bf87-42f9-a742-cbcd76e3d298","Title":"SSA Marine Mexico Modernizes Facilities with $15 Million Investment ","ContentBody":"\u003cp class=\"joc_admin__paragraph\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eSSA Marine Mexico has made significant strides in modernizing its infrastructure at the Port of Manzanillo, investing $15 million to enhance operational efficiency and sustainability at its facilities. This move is part of the company's broader strategy to remain at the forefront of the shipping and logistics industry.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e•\u003c/span\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e\t\u003c/span\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eStrengthening Sustainability with Advanced Technology\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cfigure class=\"joc_admin__inline-image-position-left joc_admin__inline-image-size-medium\" data-figure-size=\"medium\" data-figure-position=\"left\"\u003e\u003cspan class=\"joc_admin__inline-image-inherit\"\u003e\u003cimg src=\"/content-assets/1730488295264_Cranes%20arrival%20to%20TEC%20I.png\" alt=\"Cranes arrival to TEC I\" class=\"joc_admin__inline-image-inherit\"\u003e\u003c/span\u003e\u003c/figure\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\"\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e \u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIn July, SSA Marine Mexico added seven state-of-the-art E-RTG (Electric Rubber-Tired Gantry) cranes to its fleet, valued at $14 million. These advanced cranes were distributed across its two terminals: four cranes were assigned to the Multipurpose Terminal, and three to the Specialized Container Terminal I. \u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eWhat sets these cranes apart is their dual-operation capability, allowing them to function either on electric power or diesel fuel. This innovation plays a critical role in reducing the environmental impact of operations, contributing to a 7% increase in energy efficiency. This efficiency improvement is equivalent to eliminating nearly 4,000 tons of CO2 emissions annually, underscoring SSA Marine Mexico's commitment to sustainability.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThrough this acquisition, SSA Marine Mexico not only enhances its cargo-handling capabilities but also reinforces its leadership in integrating cutting-edge, eco-friendly technology in the maritime industry. The company continues to push the boundaries of efficiency and sustainability, ensuring long-term value for both its customers and the environment.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e•\u003c/span\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e\t\u003c/span\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eUpgraded Facilities to Meet Growing Demand\u003c/span\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e \u003c/span\u003e\u003c/p\u003e\u003cfigure class=\"joc_admin__inline-image-position-left joc_admin__inline-image-size-medium\" data-figure-size=\"medium\" data-figure-position=\"left\"\u003e\u003cspan class=\"joc_admin__inline-image-inherit\"\u003e\u003cimg src=\"/content-assets/1730488350634_Multipurpose%20terminal.png\" alt=\"Multipurpose Terminal\" class=\"joc_admin__inline-image-inherit\"\u003e\u003c/span\u003e\u003c/figure\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\"\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIn addition to the new cranes, SSA Marine Mexico has completed crucial modernization and repair work across its Multipurpose Terminal and Specialized Facility at the Port of Manzanillo. This $1 million investment targeted critical infrastructure enhancements, focusing on both structural integrity and operational functionality.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eKey improvements included leveling approximately 12,000 square meters in the dock area, along with the removal of outdated concrete curbs and asphalt layers. The upgraded space now features high-resistance pavers designed to optimize water drainage and prevent pooling, ensuring safer and more efficient operations.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eMoreover, the Specialized Facility saw significant upgrades, including the leveling of key warehouse areas to facilitate smoother cargo handling processes.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThese infrastructure improvements directly enhance the handling of TEUS (Twenty-foot Equivalent Unit containers), further demonstrating SSA Marine Mexico's unwavering commitment to continuous modernization, operational safety, and efficiency.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eWith these initiatives, SSA Marine Mexico is well-positioned to meet the growing demands of the global shipping industry while setting new standards in sustainable port operations.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eLINK:\u003c/span\u003e\u003ca href=\"https://www.ssamarine.mx/ssa-ing/index\" rel=\"noreferrer\" class=\"joc_admin__link\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e https://www.ssamarine.mx/ssa-ing/index\u003c/span\u003e\u003c/a\u003e\u003cbr\u003e\u003c/p\u003e","Author":"Sponsored by SSA Marine ","PhotoCutline":"Photo by SSA Marine Mexico","FeatureImageId":"e1447250-5fe7-43ba-a297-16b55e1dcd5f","FeatureImage":{"Id":"e1447250-5fe7-43ba-a297-16b55e1dcd5f","Name":"Cranes arrival to TEC I.png","Path":"/content-assets/1730488383359_Cranes arrival to TEC I.png","__typename":"File"},"Taxonomy":{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},"Redirects":[{"Path":"/ssa-marine-mexico-modernizes-facilities-with-15-million-investment-92549aa6","__typename":"Redirect"}],"EntityMetadata":{"CreatedAt":"1730488384752","__typename":"EntityMetadata"},"__typename":"PartnerContent"},{"Id":"c7bc78df-b12e-42e2-964e-ea543f4d66a9","Title":"Filling the Supply Chain Education Gap with LTL Education Courses","ContentBody":"\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIf there’s one immutable truth in the world of logistics, it’s this: LTL is an inherently complex form of transportation. Tariffs, rates, DIM weights, transit times — it’s enough to confuse even seasoned logistics professionals. The solution to this knowledge gap has historically been on-the-job training or university supply chain education, but for a variety of reasons there is now a pressing need for third-party, remote LTL training that prepares logistics workers for transportation success.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003e\u003cstrong class=\"joc_admin__textBold\" style=\"white-space: pre-wrap;\"\u003eGlobal Scope Can Overlook Local Intricacies\u003c/strong\u003e\u003c/b\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIn the past, professionals looking to move into a supply chain career learned about the basics of supply chain from universities. However, many of these college supply chain programs are now global in scope, focusing on worldwide supply chain management instead of the intricacies of specialized domestic transportation. And even these programs, which used to be widespread, are becoming less common. LTL is not an industry of broad-brush strokes; supply chain professionals really need a pointillistic understanding of the logistics of LTL in order to excel in the industry.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003e\u003cstrong class=\"joc_admin__textBold\" style=\"white-space: pre-wrap;\"\u003eAccelerating Need for Dedicated LTL Education\u003c/strong\u003e\u003c/b\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThis lack of specified training put the onus on employers to prepare new hires with the LTL knowledge needed to do their jobs. Dedicated LTL study is a necessity, not a luxury. At the same time, changes in LTL and the broader supply chain world are accelerating. The reliance on e-commerce has ballooned since the start of the pandemic, and last-mile LTL shipments and related e-commerce strains on the supply chain won’t diminish once social distancing abates.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThat genie isn’t going back into the bottle. So supply chain employers need logistics workers that are fully versed in all aspects of the industry, ready to solve unique shipping and delivery problems based on their extensive supply chain knowledge But why care about LTL? It’s been reported that some shippers in today’s world are no longer concerned with what mode is used to ship their goods.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003e\u003cstrong class=\"joc_admin__textBold\" style=\"white-space: pre-wrap;\"\u003eA Multimodal Approach Ensures On-Time Delivery\u003c/strong\u003e\u003c/b\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThis mode agnosticism means supply chain stakeholders have to be well versed in all modes of transportation. As unforeseen weather events and other disruptions, such as protests, become more common, savvy logistics employees will need to be armed with familiarity of all modes, not just the most popular, to ensure that freight is delivered on time, without damage, and in the most financially expedient way possible. Offerings like SMC³’s LTL online education courses cover a wide range of topics from LTL basics and operations to more advanced concepts like pricing analytics and transportation law. The company also has plans to continually refresh content, adding new expert presenters and taking the feedback of students to make the courses even better as time goes on.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eLearn more about\u0026nbsp;\u003c/span\u003e\u003ca href=\"https://logisticstrainingcenter.com/smc3-courses/\" rel=\"noreferrer\" class=\"joc_admin__link\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eSMC³’s LTL Online Education program\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e\u0026nbsp;and view the 2021 hybrid schedule, featuring live industry experts,\u0026nbsp;\u003c/span\u003e\u003ca href=\"https://www.smc3.com/onlinelearning2021/\" rel=\"noreferrer\" class=\"joc_admin__link\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003ehere.\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e","Author":"Sponsored by SMC³","PhotoCutline":"Photo Credits: Shutterstock","FeatureImageId":"bf8b13fa-df15-4b0e-8d1d-d8ef28bdb121","FeatureImage":{"Id":"bf8b13fa-df15-4b0e-8d1d-d8ef28bdb121","Name":"SMC3rates_shutterstock_5247046 (1).jpg","Path":"/content-assets/1726241504084_SMC3rates_shutterstock_5247046 (1).jpg","__typename":"File"},"Taxonomy":{"Id":"46","Name":"LTL","Redirects":[{"Path":"/surface/trucking-news/ltl","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},"Redirects":[{"Path":"/filling-the-supply-chain-education-gap-with-ltl-education-courses-c7bc78df","__typename":"Redirect"}],"EntityMetadata":{"CreatedAt":"1726241511473","__typename":"EntityMetadata"},"__typename":"PartnerContent"}],"taxonomyTree":[{"Id":"13","Name":"Air Cargo Forwarder News","Menu":true,"MetaTitle":"Air Cargo Forwarder News | Journal of Commerce","MetaDescription":"Journal of Commerce offers extensive air freight forwarder news and analysis of air cargo forwarding, including topics such as strategies, capacity, services.","JocCategories":"Air Cargo Forwarder News","CategoryDescription":"The Journal of Commerce provides comprehensive air cargo forwarder news and analysis of air cargo forwarders. 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