All Flexport articles – Page 2
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NewsVideo: Air cargo sector highlights its key challenges
At last week’s IATA World Cargo Symposium in Istanbul, the Air Cargo News team spoke to a variety of attendees to find out what they see as the main challenges currently faced by the air cargo industry. The recruitment challenge was one theme mentioned by many of ...
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InsightsTranspacific market: from the doldrums to new highs
After a difficult 12 months, carriers and forwarders expect business on the transpacific to take off in the latter half of the year.Cathay Cargo, the recently rebranded freight arm of Cathay Pacific, is leading the push for a new intermodal service to facilitate flows from the Dongguan area in the ...
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News
Airfreight rates climb on the transpacific in March
Transpacific airfreight rates picked up in March, although there were further declines from Hong Kong to Europe and across the Atlantic.The latest statistics from the Baltic Exchange Airfreight Index (BAI) show that prices from Hong Kong to North America in March increased by 9% compared with February to $5.38 per ...
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NewsMore signs of some improvement in air cargo
More reports have emerged this week suggesting that there might be a slight improvement in the air cargo market led by the ramping up of production in China.In its latest weekly market report, data provider TAC Index pointed out that the overall Baltic Air Freight Index covering prices by forwarders ...
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InsightsAir cargo outlook: challenging market ahead
It’s been an interesting period for the air cargo industry as volumes have been trending downwards since the first half of last year, while the capacity situation continues to change and rates remain above pre-Covid levels despite recent declines.The fall in volumes reflects high inflation that is affecting consumer spending, ...
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News
Flexport to cut back "overstaffed" workforce by 20%
Flexport has announced it is trimming the number of staff it employees by around 20% in response to expected reduced volumes following increasingly challenging economic conditions.According to a release on the freight forwarders blog, Flexport co-chief executives Dave Clark and Ryan Petersen issued a note to employees on January 11 ...
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News
No signs of Chinese New Year rise in air cargo demand
Any hopes of a surge in air cargo demand ahead of the Chinese New Year/Lunar New Year holiday appear to have faded as economic pressures continue to put the breaks on consumer spending.The two-week holiday this year falls on January 22 but industry players are not expecting to see the ...
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NewsFlexport adds another ex-Amazon exec to management team
Teresa Carlson, president and chief commercial officer. Photo: FlexportFlexport has appointed former Microsoft and Amazon executive Teresa Carlson as president and chief commercial officer.She will oversee Flexport's sales, marketing and communications, as well as its humanitarian aid and sustainability arm arm Flexport.org.Carlson will also spearhead the company's expansion in new ...
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News
China's air cargo supply chain faces more pressure
Freight forwarders are reporting a mixed picture of the current supply chain situation in China as Covid lockdowns continue following recent protests against the government's pandemic policy.China's pandemic measures are continuing to have a negative impact, although market rates remain similar to the previous week, according to Flexport.“The Covid outbreak ...
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News
China faces slow airfreight demand as Covid containment continues
As China enforces continued Covid containment measures air cargo demand is “slow” in the north of the country according to Flexport.The freight forwarder said that rates were also down in its October 25 freight market update.Reporting on North China, Flexport said: “Demand is slow, especially for US midwest and USEC ...
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News
Soft market conditions continue in air cargo
Soft market conditions continue in air cargo as trade worries, high inflation and new Covid lockdowns impact demand.This week's market round-ups from forwarders and analysts point to a weakening market in terms of demand, although rate declines have eased.Flexport mentioned lockdowns being introduced in Ningbo and their potential to hit ...
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Insights
Transpacific airfreight pricing dips below 2021 levels in August
Average airfreight rates on major air cargo routes to North America slipped below last year's levels in August as demand remained flat during the month.Figures from the Baltic Exchange Airfreight Index (BAI) show that in August, average airfreight rates from Hong Kong to North America declined 3.6% year on year ...
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News
Air cargo market remains flat ahead of upcoming peak season
The air cargo market remains flat as the industry heads towards the traditional peak season.Data provider TAC Index said that its latest figures showed that overall airfreight rates according to the Baltic Exchange Index (BAI) were last week down 0.8% compared with the prior seven days."Prices did not move much ...
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News
Hong Kong faces more cross-border trucking restrictions
Supply chains operating through Hong Kong are once again facing restrictions on cross-border truck operations due to Covid-restrictions.Freight forwarder Dimerco said that increasing Covid cases around Shenzhen have led to the city reducing daily cross-border truck movements from 3,500 to 1,500.The restrictions began on July 25 and reduce truck capacity ...
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Rates predicted to stay high despite a muted air cargo peak season
Transportation rates are expected to stay above pre-pandemic levels for the foreseeable future despite the recent slowdown in demand.Seko Logistics chief growth officer Brian Bourke said that demand had slowed this year compared with 2021 and that the constant peak season experienced over the last two years has been replaced ...
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News
Shanghai airfreight operations stable for now as Covid cases creep up
Covid is on the rise again in Shanghai but “there has been no impact on airfreight” so far and turnover at Shanghai Pudong Airport (PVG) has bounced back, according to Flexport.In a freight market update on July 12, the freight forwarder said that trucking also remains unaffected, despite the rise ...
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Asia-Europe capacity is “volatile" against growing demand
Demand continues to be strong out of China, but capacity between Asia and Europe is “volatile” and increasingly limited.This was according to Flexport’s Freight Market Update on June 14, which focused on insights for air and ocean freight on major European trade lanes.Speaking about Far East Westbound airfreight trade, Laurie ...
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NewsAmazon exec Dave Clark takes Flexport CEO role
Dave Clark. Source: FlexportAmazon executive Dave Clark - who helped "transform" the e-commerce giant and shape its supply chain strategy - is set to become the new chief executive of freight forwarder Flexport.Clark will join on September 1 and replace Flexport founder Ryan Petersen as he moves over the role ...
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News
Shanghai port congestion could pile on airfreight pressure
Covid lockdown measures in Shanghai are drawing to a close but a backlog of shipping containers at the Port of Shanghai could once again fuel airfreight congestion and demand.In its May 24 airfreight update for North China, Flexport said that businesses are reopening after Covid curtailment measures forced them to ...
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News
Shanghai capacity creeps back but trucking trouble remains
Flight capacity is slowly improving but trucking remains in trouble as the Shanghai lockdown goes on and there are concerns a lockdown could be rolled out in Beijing.Flexport said in a market update on April 26 that Shanghai continues to undergo lockdown due to high amounts of Covid cases.A round ...