Alex Lennane

6 days ago | theloadstar.com | Alex Lennane

Despite “loss-making” airfreight rates offered for Hong Kong/China-US, Chinese forwarders seem optimistic that the trade war with the US will ease. One forwarder said he’d been offered a co-loading rate from Hong Kong to the US west coast of $3.50 per kg, including FSC and security, and $3.90 to the east coast. “Highly volumetric” cargo rates on the spot market could be $2.50 to $2 per kg, he added. ”It’s definitely a loss-maker. It’s common for BSA-contracted forwarders to be dropping ...

1 week ago | theloadstar.com | Alex Lennane

Maersk Air Cargo ditched some of its less-profitable customers, a move which saw its airfreight volumes fall 19% year on year, it said today when announcing its Q1 results. “We took targeted actions to replace those businesses to focus on margin in favour of revenue,” said CEO Vincent Clerc this morning. “EBIT margin remains the priority, even if this has to come at the expense of some revenue growth for a while, as we saw with the rebasing of middle-mile and ...

1 week ago | theloadstar.com | Alex Lennane

The sudden fall in demand for airfreight on the transpacific is beginning to trigger capacity shifts. Compared with a week ago, capacity in the past 72 hours has fallen 8% globally, according to Rotate, which also said yesterday that 10% of the global freighter fleet – nearly 50 widebodies – had not operated for three days. This could be explained in part by the May Day holiday, but is likely also related to the ending of the de minimis exemption in ...

1 week ago | theloadstar.com | Alex Lennane

India’s growing coastal freight demand looks like the next target for foreign container lines amid the trade diversification in Asia. CMA CGM and Maersk are actively considering venturing into coastal shipping operations between Indian ports, according to industry and government sources. “It’s a trailblazing investment opportunity for foreign lines to ramp up their presence in India,” one industry observer told The Loadstar.

1 week ago | theloadstar.com | Alex Lennane

The flurry of court cases surrounding Expeditors has not put it off its stride: in its Q1 results it announced healthy growth, with strong volume and revenue increases. However, it warned that the market was now unpredictable, due to the “frenzied landscape of tariffs”. Reporting a 21% year-on-year increase in revenue, to $2.7bn, on air tonnage up 9% and ocean up 8%, new CEO Daniel Wall said the company continued to “pull the right levers”. He added: “We grew air tonnage and ocean ...