All Flexport articles – Page 4
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News
Airfreight rates up as capacity comes under pressure
Airfreight rates from key Asian hubs continued to climb last week as ocean capacity shortages and personal protective equipment shipments pick up.The latest figures from TAC Index show that average airfreight rates from Hong Kong to North America last week climbed for the fourth week in a row as they ...
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Airfreight rates predicted to rise over the coming months as capacity tightens
Airfreight rates from China and Hong Kong are set to rise again over the coming months as new product launches and a lack of capacity put load factors under pressure, according to freight forwarder Flexport.Last week rates out of Asia appeared to stabilise — and even crept up a little ...
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TAC Index: Air cargo pricing from China surges again
Airfreight rates from Shanghai to Europe and the US surged again last week as capacity on the trade lanes remained tight.The latest statistics from TAC Index show that prices on services from Shanghai to North America last week increased by 9.3% week on week to $6.95 per kg, which is ...
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NewsUnited and Flexport collaborate to deliver Covid-19 relief
To support the continued fight against Covid-19, United Airlines has collaborated with Flexport.org to ship essential medical cargo to frontline workers in California and New York.As part of the Frontline Responders Fund — a GoFundMe page launched by Flexport.org, the impact group that represents freight forwarder Flexport — millions of ...
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NewsFlexport alters air cargo strategy as supply chains diversify
Flexport has signed block-space agreements (BSAs) on freighter services from several Asian origins and cancelled its dedicated all-cargo service in light of changing supply chain strategies.For the last two years the San Fransisco-headquartered freight forwarder has offered a dedicated freighter between Hong Kong and Los Angeles operated originally by Western ...
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Air Cargo News' Top 10 most read in 2019
With 2020 already underway, the Air Cargo News team decided that now is an ideal moment to share our most popular stories from the past 12 months. Despite 2019 being a challenging – and at times, unpredictable – year, there were significant positives, as our list below shows.So, which stories ...
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Flexport announces Vietnam facility as manufacturers shift to Southeast Asia
Flexport has opened a new warehouse in Thu Dau Mot City, just outside of Ho Chi Minh City in Vietnam as manufacturers switch to the Southeast Asian country to avoid the ongoing China-US trade war.The new facility will serve as a "vital hub" for operations in Southeast Asia, the forwarder ...
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NewsFlexport partners with SF Express for smarter logistics in China
Henry Ko of Flexport Asia (left), and Keith Ip of SF Express GroupFreight forwarder Flexport is partnering with Chinese logistics specialist SF Express to offer a one-stop-shop for freight services, including full container load (FCL) ocean shipping and air cargo.Flexport and SF Express will connect data and platforms to provide ...
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NewsTIACA's sustainability program adds four strategic partners
Four new strategic partners, including Brussels Airport, Flexport, Oman Aviation Services, and Turkish Airlines, have signed up to back The International Air Cargo Association (TIACA)’s new Sustainability Program.They join CHAMP Cargo Systems, sponsors of TIACA’s inaugural Sustainability Award, which is a key part of the project.The program, headed by Celine ...
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Forwarders predict a slower peak season for 2019
Freight forwarders are not expecting to face the same cargo capacity shortages as they experienced on major trades in 2017 and 2018.Flexport’s global head of airfreight Neel Jones Shah said that in Greater China and Hong Kong, the peak season would be less pronounced that the last couple of years ...
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NewsFlexport launches trade finance solution
Flexport is launching a trade finance solution that it claims will help companies alleviate capital constraints caused by the US-China tariffs.Flexport said that because all client shipments are managed on its digital platform, with data down to the SKU level, it views risk differently than a bank would because it ...
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News
Flexport switches freighter flights to new operator
Freight forwarder Flexport has switched its transpacific air charter operation from Western Global to a service run by Plus Logistics, a Nippon Cargo Airlines (NCA) subsidiary, and Atlas Air.A spokesperson for the company said that the switch was made on July 8 without a single missed flight. Atlas Air operates ...
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Traditional forwarder systems designed to be secure, not to share data
If the future is all about data sharing and transparency, then traditional freight forwarder IT systems are not the natural place to start, according to Moritz Claussen, co-founder of online booking platform cargo.one.“They were designed to be secure, not to share data,” he explained to delegates at the Air Cargo ...
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NewsFlexport makes two senior appointments as it continues digital drive
Kevin Paige (L) and Mehmet Goker (R)Freight forwarder Flexport has appointed Mehmet Göker as chief data officer (CDO) and Kevin Paige as chief information security officer (CISO).Flexport chief executive Ryan Petersen said: "Hiring top talent for the CDO and CISO roles was an extremely important priority for us. Data and ...
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A mixed picture for rates as air cargo shows some signs of a pick-up
Airfreight rates on the transpacific trade are expected to begin picking up over the coming weeks after hitting their low point for the year.The latest data from Tac Index shows that average prices between Hong Kong and North America stood at $3.38 per kg in March.However, derivatives broker FIS said ...
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Flexport secures $1bn investment for infrastructure and technology
Freight forwarder Flexport has secured $1bn in funding, which will be used to invest in technology and infrastructure.The investment round was led by the SoftBank Vision Fund, with participation from existing investors Founders Fund, DST Global, Cherubic Ventures, Susa Ventures and SF Express, which has previously invested $100m in the ...
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Cargo.one takes aim at synchronised shipping
There are many examples of ideas coming about by chance -— from penicillin to Post-it Notes -— but the airfreight sector can now lay claim to having its own serendipitous discovery in the shape of cargo.one’s real-time online spot market booking platform.The platform’s story begins when its founders were exploring ...
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Forwarder Flexport expands management team
Freight forwarder Flexport has appointed three new people to its management team as it looks to continue to grow.Sudhanshu Priyadarshi has been appointed chief financial officer, Huey Lin is president of Asia, and Jeff Thomas as chief marketing officer.Priyadarshi will lead all financial operations for the company. He has more ...
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NewsAir cargo braces for the impact of trade tariffs
The introduction of trade tariffs is set to hit the air cargo industry, despite the possibility of an initial boost.Reports have suggested that the various trade tariffs that have been introduced over the last few months could result in a rush to transport goods before they come into force, with ...
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Flexport: new LA facility will support Hong Kong charters
San Francisco-headquartered freight forwarder Flexport has leased a 136,685 sq ft industrial facility in the South Bay area of Los Angeles.A statement said: “Now operating a charter flight from Hong Kong a few times a week with plans to intensify ahead, Flexport needed the building in order to be bonded ...