News

Traffic rising on the Silk Road



January 28, 2019 /

Rail freight traffic from Europe to Chongqing in China exceeded traffic in westbound direction in 2018. The number of trains travelling from Europe to the southwestern Chinese city reached 728, out of a total of 1,442 freight trains in both directions. This is the first time that eastbound traffic was more than westbound movement. Westbound…


2019 supply and demand balanced by less mega container ships



January 21, 2019 /

A “reduced appetite” for ordering ultra-large container vessels (ULCVs) and carriers instead aspiring to become global logistics integrators could finally balance container capacity supply with demand, according to new analysis from Drewry. Indeed, at the end of last year Maersk’s chief executive, Soren Skou, told The Financial Times: “We for sure have to do some…


New bunker adjustment fees keep spot rates firm



January 7, 2019 /

Asia-Europe ocean carriers from have announced further hikes in their FAK rates this month after successfully pushing through 1 January spot rate increases. Alphaliner said rates on the route “remained firm in December, despite the resumption of the 2M’s AE2/Swan service”. Hapag-Lloyd said that on 16 January, “due to strong demand”, it was increasing its…


Happy new year as air freight marks a decade ‘in the black’



December 19, 2018 /

IATA claims global aviation is on course for a “decade in the black”. However, the annual pace of growth in cargo is well below last year’s “exceptional” performance. Despite the slowdown, the association remains relatively positive about future growth, albeit it at a slower pace. “The expected 3.7% annual increase in cargo tonnage next year to 65.9m…


CMA CGM back in the black in Q3



November 27, 2018 /

CMA CGM moved back into the black in the third quarter, and recorded a net profit of $49m for the nine-month period. However, in the third quarter, the French carrier was beaten to its ‘best in class’ financial performance ranking by Hapag-Lloyd which reported a stronger recovery. CMA CGM’s turnover during Q3 increased by 6.3% on the same period last year,…


Peak season is upon air freight



October 31, 2018 /

Peak season is quickly coming upon the air freight industry.  Forwarders are reporting limited capacity on Asia-US, with rates from Hong Kong into New York now hitting HK$36 per kg (US$4.58) on major carriers such as Cathay, Cargolux and Asiana. Los Angeles rates are marginally lower, hovering at between HK$30 and HK$35++. “The air freight market…