FDX: Top Producer FDX: Huge Benefits from Freight Sharing: FEDEX READ-ACROSSAMZN: RIVIAN BOOSTTSLA: BULL CALLODFL: Downgrade HL: Online Buyer Trends SFDX: FEDEX FREIGHTDSV Required Options: Buyback Update HLAG: Tonnage Purchasing DSV : Another LookDSV: UGINGIDEUPSPD: GEO MIX RISKRXO: Trading growth FDX: Financial year-end data released today CHRW: SUMMITINGBA: Liquor trade on radar: decline
FDX: Top Producer FDX: Huge Benefits from Freight Sharing: FEDEX READ-ACROSSAMZN: RIVIAN BOOSTTSLA: BULL CALLODFL: Downgrade HL: Online Buyer Trends SFDX: FEDEX FREIGHTDSV Required Options: Buyback Update HLAG: Tonnage Purchasing DSV : Another LookDSV: UGINGIDEUPSPD: GEO MIX RISKRXO: Trading growth FDX: Financial year-end data released today CHRW: SUMMITINGBA: Liquor market on radar: decline
Transport Intelligence (Ti) said in its second-quarter air freight price tracking report that “normal market conditions are not so normal” as economic growth and changing global trade patterns bring uncertainty and volatility to the sexes of the air cargo market.
The Ti Global Cargo Volume Index showed that global air cargo volumes fell 6.4% in the first quarter compared with the previous quarter.
Despite monthly declines in the first two months of the quarter (-9.2% in January and 6.2% in February), March saw a strong recovery with global sales up 17.4% month-on-month.
The number of global airports increased by 7.3% year-on-year, led by an 11.3% year-on-year increase in the number of European airports, followed by a 7% increase in the number of Asian airports and an increase by 4.5% compared to the same period last year. increase in the number of airports in North America.
Unsurprisingly, the intelligence firm attributed this to the Red Sea crisis and the volume of Chinese e-commerce transactions, adding: “With the exception of e-commerce, China’s exports have grown strongly.”
However, he warned that the structure of global trade is changing as efforts to reduce dependence on China intensify.
“China’s position in the global trading system is becoming increasingly precarious due to attempts to effectively push it out of the trading system it joined in the 1990s,” the report explains.
But new protectionist measures are unlikely to change the dynamic any time soon, and China’s influence in global trade continues to grow, as evidenced by the sudden entry of Chinese e-commerce providers into Western markets over the past year.
Moreover, Tai noted that these “increasingly large Chinese trade surpluses” are now being redirected from Western markets to new locations in Asia and the Americas.
On the supply side, e-commerce from China is likely to be the main driver of cargo fleet growth, but one of the strongest drivers of capacity is increased freight volumes as passenger traffic has grown over the past three years, Tai said. . Increase. In March alone, abdominal capacity increased by 20% compared to the same period last year.
“Airlines are finding that they can barely meet this demand, and aircraft manufacturers cannot build planes fast enough. This is a different market than pre-2020, characterized by low-cost carriers and excess cargo.”
Beyond e-commerce and the Red Sea crisis, Tee said the surge in demand could also be driven by “early optimism driven by the prospect of falling interest rates and inflation in most Western markets.”
“Fundamental demand conditions look quite buoyant, but they are complex and difficult to understand. “It also suggests that one or more of these factors could change quickly, affecting growth levels quite quickly.”
Indeed, Pierre van der Stichele, vice president of cargo at charter broker Air Partner, told The Loadstar this month: “In my nearly 30-year career in cargo, I have never seen the industry be so volatile.”
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Post time: Jun-27-2024