Air cargo in longest slump since global financial crisis
By Damian Brett Air cargo is now in its longest slump in demand since the global financial crisis in 2008. The latest figures from IATA show that demand in freight tonne km (FTK) terms declined by 3.9% year on year in August. IATA director general and chief executive said the figures were “deeply concerning”. “The impact of the US-China trade war on air freight volumes was the
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MoreShanghai airfreight rates improve as cargo switches from Hong Kong
By Damian Brett The price of air cargo out of Shanghai airport has begun to improve over recent weeks as cargo volumes have shifted from Hong Kong to the Chinese hub. The latest figures from Tac Index show that prices from Shanghai to Europe last week increased by 4.7% compared with a week ago to $2.43 per kg, while prices to the US were up by 4% to $3.13 per kg. Conversely, prices from Hong Kong to Europe
MoreAir cargo hits the ground with a bump in August
By Damian Brett The air cargo industry was brought back to earth in August as freight volumes declined by 7.1% compared with a year earlier. Analyst WorldACD said that in July, there had been some hopes that air cargo could be on the road to recovery as it posted a decline of 4.2%, an improvement on performance during the rest of the year. However, the drop in August “brought the
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