A stabilisation of global inventory levels has helped stabilise air freight demand and halted the freefall according to the International Air Transport Association (IATA) as it warned that concerns over a swine flu pandemic could have a significant impact on air traffic. IATA's latest statistics show that air cargo demand has "moved sideways" in the -21 to -24 per cent range since its plunge from -7.9 to -23.2 per cent between October last year and January 2009. Freight demand in March was … [Read more...] about Cargo drop stabilised but Swine flu new threat
Freight Forwarders
TNT opens expanded Regional Hub in Singapore
The expanded S$20 million facility, capable of handling over 300 tonnes of cargo per day, is a key component of the express logistics company's pan-Asian road network and is Singapore's first integrated air and road hub. In late 2005 TNT hit upon the idea of developing a road network connecting China with Southeast Asia, creating what was essentially a small scale version of their extensive European road network. Named the Asia Road Network (ARN), the basic pan-Asian land network linking China … [Read more...] about TNT opens expanded Regional Hub in Singapore
Semiconductor decline may be moderating
Global semiconductor sales declined again in February, down 30.4 per cent year-on-year to US$14.2 billion, but there is some indication the rate of decline is moderating from the fourth quarter of last year, according to the Semiconductor Industry Association (SIA). "The global semiconductor industry is going through one of the steepest corrections in its history," said George Scalise, SIA president. "While it would be premature to conclude that the sales decline has hit bottom, there are some … [Read more...] about Semiconductor decline may be moderating
US freight index shows further March decline
A key measure of industrial shipping in the US has shown a further 3.5 per cent decline from February to March after offering a glimmer of hope in February when it showed its first fractional gain in six months. The Cass Freight Index for shipments declined 22 per cent in March from the same period a year earlier. Freight transportation spending also turned negative after a slim month-to-month gain in February. The measure of expenditures fell 2.1 per cent from February to March and was down a … [Read more...] about US freight index shows further March decline
SIA/Emirates ordered to cooperate with investigation
Singapore Airlines and Emirates have been forced by the Australian Competition and Consumer Commission (ACCC) to cooperate in the ACCC's investigation into price-fixing after a Federal Court judge ruled that air cargo bound for Australia from overseas was not beyond the definition of a "market in Australia" under the Trade Practices Act. The airlines also lost the argument that the ACCC had failed to consider the burden imposed on the airlines in providing the documents, which cover a six-year … [Read more...] about SIA/Emirates ordered to cooperate with investigation
TNT and Con-way strike new partnership
TNT and Con-way Freight announced a partnership to link their respective road networks in Europe and the US, in what they say will translate to cost-effective, high quality express freight services between both sides of the Atlantic. The agreement establishes Con-way Freight as TNT's primary road transportation partner for deliveries of 'Economy Express' parcels and freight across the US. Similarly, Con-way Freight's network will be linked to TNT's global air network and Express Road Network, … [Read more...] about TNT and Con-way strike new partnership