China's trade surplus was US$20 billion in June, the highest level in eight months, Bloomberg reported. The increase came largely thanks to surging exports, which were up 43.9 per cent year-on-year. But customs officials were quick to warn that troubles in the Eurozone had begun to affect Chinese exports to the region. Weakened US demand, increased wages, and reduced export tax rebates were also working to undermine the competitiveness of Chinese exports and international pressure on China to … [Read more...] about China's trade surplus rises in June
Carriers
Miami-based Arrow Air bankrupt, to liquidate
Arrow Air Inc, a Miami-based cargo carrier, has filed for bankruptcy protection and plans to liquidate after failing to find a buyer. The 60-year-old company, which operated as Arrow Cargo and once had more than 3,500 customers, halted operations in early July and filed a Chapter 11 petition on in the US bankruptcy court in Miami. In a court filing, Arrow said rising jet fuel prices outpaced its ability to boost prices and this resulted in "significant recurring operating losses" and a large … [Read more...] about Miami-based Arrow Air bankrupt, to liquidate
WCO and TIACA agree to greater cooperation
The World Customs Organization (WCO) and The International Air Cargo Association (TIACA) have signed a Memorandum of Understanding to help identify how the air cargo industry can assist in priority Customs objectives and to discuss how these can be best achieved with minimum disruption to commercial operations. The new agreement — signed in Brussels by WCO secretary general, Kunio Mikuriya, and TIACA's secretary general, Daniel Fernandez — aims to keep customs and the air … [Read more...] about WCO and TIACA agree to greater cooperation
IATA success in standardising cargo liability
The International Air Transport Association (IATA) announced the standardisation of cargo liability limits. With effect from 1 July 2010, the Air Waybill (AWB) Conditions of Contract (IATA Resolution 600b) have been changed to harmonise the application of the Montreal Convention liability limit for all air cargo across all routes. IATA says the simplified approach improves efficiency for shippers and forwarders and is consistent with industry efforts to improve competitiveness by simplifying … [Read more...] about IATA success in standardising cargo liability
Hawaiian to start Incheon service next year
Hawaiian Airlines is launching a four times weekly service to South Korea using Boeing 767-300ER aircraft from January 2011, as part of its ambitious expansion into Asia as it continues its evolution from an inter-island and West Coast carrier to a more significant international player. Hawaiian president and CEO Mark Dunkerley said Incheon will a key hub for Hawaiian because of its accessibility and proximity to other countries in the region including China. … [Read more...] about Hawaiian to start Incheon service next year
Air cargo demand continues rebound: IATA
The International Air Transport Association (IATA) announced international scheduled traffic statistics for May which showed a 34.3 per cent jump in freight demand and an 11.7 per cent increase in passenger traffic and compared to May 2009. “Demand rebounded strongly in May following the impact of the European volcanic ash fiasco in April. Passenger traffic is now 1 per cent above pre-recession levels, while the freight market is 6 per cent bigger,†said Giovanni Bisignani, IATA's … [Read more...] about Air cargo demand continues rebound: IATA
