The pace of air freight rate growth in the air cargo industry has slowed, however, July's volumes registered strong growth and forwarders anticipate a strong peak season.
The average all-in buy rate across 28 major east-west lanes reached USD 2.64 per kilgramme, an increase of 1.5% against 2016, according to the latest Sea and Air Shipper Insight report from consultant Drewry.
Drewry's East-West Airfreight Price Index continued its upward trajectory in July, an increase of 1.9% month on month. In June forwarders were paying an average of USD 2.59 per kg.
While the increases in rates will be welcomed by air cargo carriers, the improvements contin...
Cathay Pacific and Cathay Dragon carried 179,691 tonnes of cargo and mail in July 2017, an increase of 13.7% compared to the same month last year.
The cargo and mail load factor rose by 4 percentage points to 68.7%.
Capacity, measured in available cargo/mail tonne kilometres, was up by 4.5% while cargo and mail revenue tonne kilometres (RTK) increased by 11%.
In the first seven months of 2017, the tonnage rose by 11.9% against a 2.6% increase in capacity and a 9.2% increase in RTKs, said a release....
Frankfurt Airport 's (FRA) July cargo throughout increased 4.2% year on year in July to 188,009 million tonnes (mt).
Year to date, total cargo traffic increased 4.7% year on year to 1.3 mt.
The airport's accumulated maximum takeoff weights also increased 1.4% to 2.8 mt, beating the July 2015 record.
Other airports within the Fraport group did not do so well with Lima airport's cargo volume falling 3% to 2,648 tonnes, though Bulgarian hubs enjoyed more that double the freight in July to 2,257 tonnes. The Ljubljana (LJU) airport in Slovenia reported a 13% increase in July to 947 tonnes.
Among the Fraport equity consolidated airports...
Cargojet's pre-tax second quarter profit increased 9.3% year on year to USD 24.6 million, drawn on revenues of USD 88.2 million, up 11.2%.
The company said revenues were up on increased volumes from existing overnight customers, contractual annual price increases related to the consumer price index and fuel surcharges. This was partially offset by a decrease in charter revenues.
Cargojet president and CEO Ajay Virmani said, "We continue to prudently manage our operating costs and look for further route network optimisation opportunities.”
He also said the increase in profit and revenue in was due to Cargojet's strategy to improve airc...
DHL Global Forwarding's second quarter air freight gross profits fell 10.6% year on year to EUR210 million (USD 246 million), drawn on revenues of EUR1.1 billion, which increased 5.7%.
The Deutsche Post-owned forwarder said the overall air cargo market is estimated to have increased by 9-10% during the period.
But air cargo profits declined because of a lag between time rates are increasing and a forwarder's ability to pass these price increases onto customers.
Air freight rates in Asia remained nearly unchanged at a level comparable with the peak season of the fourth quarter of the previous year.
The company said in a statement "...
Agility's air freight tonnage grew 14.7% in the second quarter.
The air cargo performance contributed to a 9.6% increase in revenue for Agility Global Integrated Logistics (GIL), the company's core logistics business, in the quarter, to KWD255.2 million (USD 843.8 million).
The company said, Ocean container volume grew 12.9%, again above the market average. Contract logistics revenue also grew, particularly in the Middle East and Asia Pacific, due to a combination of new and existing warehousing facilities.
Revenue in the quarter was flat compared to the same period a year ago. Net revenue margins contracted 24.9% year on year.
Hong Kong International Airport's (HKIA) cargo throughput increased 11.3% to 2.3 million tonnes (mt) in the first six months of 2017, assisted by a June export surge.
Cargo throughput in June was 410,000 tonnes, representing year-on-year growth of 11.4% at the world's number one air freight hub in 2016. Passenger throughput was up 1.3%to 35.7 million while flight movements increased 0.9% to 206,560 year on year.
The HKIA said that the strong half year cargo result was due largely to higher exports coinciding with an improvement in global trade.
"A 17%year-on-year increase in June exports led to high growth in cargo tonnage for the month. Tr...
Amsterdam Airport Schiphol saw cargo volume rise 9.8% year on year in June, while the number of freighter flights rose 3.9%.
In the first six months of the year, cargo volume at the airport increased 8.7%, and the number of air transport movements climbed 4.9% year on year. In June, passenger numbers grew 7.1% to reach 6.1 million.
This figure was the result of 3.8% more flight movements, larger aircraft and an increased load factor....
Air traffic for Cambodia's three big airports increased 23% in the first six months of the year, driven by Chinese tourism.
The official reports also said cargo volumes increased 34% year on year increase, crediting a positive economic environment and the increased numbers of cargo carriers operating out of Phnom Penh's international airport....
Cathay Pacific and Cathay Dragon have carried more cargo and mail in June 2017 compared to the same month in 2016.
The two airlines carried 170,476 tonnes of cargo and mail last month, an increase of 12.8% compared to the same month last year.
The cargo and mail load factor rose by 4 percentage points to 68.3%. Capacity, measured in available cargo/mail tonne kilometres, was up by 4.8% while cargo and mail revenue tonne kilometres (RTKs) increased by 11.3%.
In the first six months of 2017, the tonnage rose by 11.5% against a 2.3% increase in capacity and an 8.9% increase in RTKs.
Looking ahead, the airfreight market remains strong and this sh...