Airfreight

Kuehne+Nagel logistics profit plunges but still 2nd-best quarter ever

Kuehne+Nagel, the largest third-party logistics provider in the world by revenue and the largest air and ocean freight forwarder by volume, said it expected solid growth this year compared to pre-COVID times despite a 43% drop in fourth-quarter operating income as shipping demand sagged.

It also set higher financial targets of operating profit growth of 17% to 19% above 2019 levels and a conversion rate — the ratio of earnings before interest and taxes to gross profit — of 25% to 30% by 2026....

https://www.freightwaves.com/news/kuehne-nagel-logistics-profit-plunges-but-still-2nd-best-quarter-ever

Air cargo’s Lunar New Year blues

Global airfreight weakness has worsened to start 2023 in the face of a global economic slowdown and the lack of a typical bounce around the Chinese New Year holiday. But there is cautious optimism that cross-border trade and demand for freight transportation could pick up in the second half of the year.

The International Air Transport Association (IATA) said last week that air shipment traffic slid 8% last year from record highs in 2021 and was 1.6% less than in 2019, a relatively weak year for...

https://www.freightwaves.com/news/air-cargos-lunar-new-year-blues

Airfreight Loses As Shippers Switch To Cheaper Ocean Routes

Credits: Aldrin Rachman Pradana/ Unsplash
  • In last week’s earnings call, TJ Johnson, CFO of Victoria’s Secret, said the company would save millions in supply chain costs by switching modes.
  • Through the next nine months, the stabilization of rates and the ability to move between airplanes and ocean containers will abate about half of the incremental cost.
  • Mr. Droog said wary shippers were unlikely to delay booking capacity to wait and see how the market fared.

Shippers are merrily switching...

https://mfame.guru/airfreight-loses-as-shippers-switch-to-cheaper-ocean-routes/

Port X Logistics solves airfreight emergencies with Carrier 911

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Port X Logistics has made a name for itself in drayage, transloading and trucking, expediting containerized freight throughout the U.S. and Canada. Now, the company has brought its expertise into the airfreight arena.

The Port X Logistics team launched Carrier 911 about a year ago. The platform exists to recover freight from container freight stations and airports across the nation. Carrier 911 operates with the same...

https://www.freightwaves.com/news/port-x-logistics-solves-airfreight-emergencies-with-carrier-911

Cargo carries Lufthansa Group to 1st profit since pandemic

A line of Lufthansa aircraft, close up of blue tails.

Record results by the cargo division pulled Deutsche Lufthansa AG to profit in the second quarter for the first time since the COVID crisis began, underscoring how moving goods has become increasingly important for passenger airlines as a hedge against travel downturns.

“The Lufthansa Group is back in the black,” CEO Carsten Spohr declared in a partial earnings release this week that showed a 393 million-euro ($399.6 million) operating profit.

Lufthansa Cargo, which operates 11 Boeing 777...

https://www.freightwaves.com/news/cargo-carries-lufthansa-group-to-1st-profit-since-pandemic

Qatar Airways achieves strong cargo growth in fiscal year

Night loading of cargo on a Qatar Airways jet.

Qatar Airways, the largest non-express scheduled air cargo carrier in the world, on Thursday reported a 25% increase in cargo revenue for the fiscal year ended March 31 from moving more than 3.3 million tons of goods. Volume by weight was more than double the last pre-pandemic year.

The company claims it now holds an 8% share of the cargo market, although it is unclear what the figure is based on since there are no known independent rankings for market share. Nobody was available to explain the...

https://www.freightwaves.com/news/qatar-airways-achieves-strong-cargo-growth-in-fiscal-year

Acuitive helps global shippers get freight bills right before they pay

The logistics industry is known for its volatility, with markets shifting in response to everything from natural disasters to consumer mindset changes. This inherent changeability, coupled with the ongoing capacity crunch, makes invoice auditing more important – and more challenging – than ever for shippers. This is especially true in international shipping.

Companies rely on a wide variety of partners to handle their invoice auditing, including brokers and third-party freight pay companies....

https://www.freightwaves.com/news/acuitive-helps-global-shippers-get-freight-bills-right-before-they-pay

China Airlines orders 4 Boeing 777 freighters after 2021 cargo record

Underneath view of a China Airlines cargo jet flying overhead.

China Airlines said Thursday it has ordered four 777 freighters from Boeing as it seeks to capitalize on a booming air cargo market that helped propel the Taiwan flag carrier’s revenues last year. Deliveries are slated to commence in 2023 and be completed the following year. 

The 10th-largest cargo hauler by volume, China Air already operates three 777 all-cargo jets and has three more on order — two of which are scheduled for delivery. The bulk of the fleet consists of 18 B747-400 freighters....

https://www.freightwaves.com/news/china-airlines-orders-4-boeing-777-freighters-after-2021-cargo-record

Airline group says global cargo volume grew 6.9% in 2021

A close up a plane at the gate with cargo containers on the tarmac. View is looking down from the gate.

Air cargo demand rebounded in December, growing 8.9% over the 2019 level, after a stumble in November when airlines’ throughput increased only 3.9% because of congestion at major airports, the International Air Transport Association reported Tuesday.

The strong finish left the industry with a 6.9% gain in cargo volume for the full year, with the key international sector besting 2019 by 7.4%. 

Airlines in North America topped the growth chart in December, with international demand growing 20.5%...

https://www.freightwaves.com/news/airline-group-says-global-cargo-volume-grew-69-in-2021

PayCargo executive van der Walt resigns to focus on daughter’s surgery

Profile photo of a man with an airplane on one side and ocean containers on the other in a blended picture.

Longtime airfreight industry leader Lionel van der Walt has stepped down from his role as chief commercial officer at PayCargo, a digital freight transportation payment portal, to deal with a family medical emergency.

In a LinkedIn post over the weekend, van der Walt said he resigned to devote all his attention to caring for his eldest daughter, who has been diagnosed with a brain tumor and is scheduled to undergo surgery in February.

“With this in mind I have made a decision to step down from my...

https://www.freightwaves.com/news/paycargo-executive-van-der-walt-resigns-to-focus-on-daughters-surgery

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