Air cargo’s difficult start to 2016 was extended into February with worldwide volumes declining by 3.8 per cent year-on-year (YoY), the largest YoY volume drop in three years, according to the latest analysis by WorldACD Market Data. The origins Asia Pacific and North America were the main culprits with January/February together seeing these destinations posting YoY volume decreases of more than 7.0 per cent. Africa, Europe and Middle East & South Asia each posted around 5.0 per cent … [Read more...] about Chinese New Year confirms air cargo slide in Asia Pacific: WorldACD
Logistics
Air cargo in the ‘new mediocre’ of global economic growth
The global economy is growing, but growing at a lower rate than anticipated, said George Anjaparidze, senior economist, IATA who went on to cite International Monetary Fund (IMF) CEO Christine Lagarde who recently warned that the world was on the threat of entering a new phase of mediocre growth becoming the new reality. “And that’s exactly what we’re seeing,” added Anjaparidze. The advanced economies are still growing, but very slowly he noted with emerging economies growing far below their … [Read more...] about Air cargo in the ‘new mediocre’ of global economic growth
Stifel Logistics Index: Positive blips in a downward trend
Despite improved results in January and February, the March edition of the Stifel Logistics Confidence Index suggests that these months may have merely amounted to positive blips within a downward trend, according to the Index’s authors at Transport Intelligence (Ti). The release of February trade volume figures for China showed that the country has experienced significant declines in both imports and exports, with the latter contracting 25.4 per cent year-on-year; the steepest decline since … [Read more...] about Stifel Logistics Index: Positive blips in a downward trend
Volga-Dnepr AN-124, IL-76 rush compressor repair for Sakhalin-2
Volga-Dnepr Airlines’ quick response operations for the oil & gas industry were called into action to ensure the urgent repair of a compressor at Russia’s only natural gas liquefaction plant, Sakhalin-2. The transportation project required operations using both An-124-100 and IL-76TD-90VD freighters from the airline’s fleet to move equipment from Kuala Lumpur, Malaysia, and Moscow to Yuzhno-Sakhalinsk on the Russian island of Sakhalin. Onboard the IL-76TD-90VD flight from Moscow was a … [Read more...] about Volga-Dnepr AN-124, IL-76 rush compressor repair for Sakhalin-2
Kerry Logistics’ acquisitions drive growth for 7th consecutive year
Kerry Logistics Network Limited, a leading logistics service provider in Asia, today announced the Group’s annual results for 2015 with core net profit increasing by 9.0 per cent to HK$1.06 billion (US$136.65 million) on stable revenue of HK$21.08 billion. Kerry’s Integrated Logistics business saw a 13 per cent rise in segment profit to HK$1.64 billion while the group’s International Freight Forwarding business recorded a 7.0 per cent rise in segment profit to HK$361 million. “In 2015, … [Read more...] about Kerry Logistics’ acquisitions drive growth for 7th consecutive year
WCS faces up to industry challenges
“The air cargo industry has had a rollercoaster ride over the last decade. But the continued success of the World Cargo Symposium, culminating in a record attendance of over 1,100 delegates in Berlin this year, shows the commitment of the industry to share best practice and generate action plans to tackle the industry’s greatest challenges,” said Glyn Hughes, IATA’s global head of cargo. Discussions over four days at the WCS focused on the challenge of potentially disruptive new technologies … [Read more...] about WCS faces up to industry challenges