The global freight forwarding market saw another year of stellar growth in 2006, according to the latest report published by leading logistics research organisation, Transport Intelligence. The research, contained in Global Freight Forwarding 2007, indicates that although the rate of growth was not quite as fast as the year before, it confounded many experts’ expectations of slowingtrade volumes.
Steady economic growth in Europe supported Asia Pacifi c trades, whilst the US economy did not decelerate as much as feared. Intra- Asian trade was also a key driving force and has become the focus of many forwarders’ development strategies. Air freight revenues rose by 12 percent, the same rateas a year earlier.
The Global Freight Forwarding 2007 report also provides the latest industry rankings. The market has been characterised by high levels of mergers and acquisitions activity over the past few years which has transformed the industry. In terms of overall forwarding revenues – air, sea and customs brokerage– DHL Global Forwarding isthe number one. Kuehne +Nagel and the Schenker/BaxGlobal combination make upthe top three.