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
Freight Forwarders
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
Decline continues for European carriers
Air cargo has "all but collapsed," according to the Association of European Airlines (AEA), who said traffic volumes were down by around a fifth for the first two months of the year, the worst figures on record. Passenger traffic plunged nearly 5 per cent in the first two months of the year and could fall another 10 per cent in March as the economic downturn continues. It said it would normally expect a 4 per cent to 5 per cent increase in traffic "so current levels are approaching 10 per cent … [Read more...] about Decline continues for European carriers
IATA ups ’09 forecast with $4.7B industry loss
Estimated losses for the global air industry are expected to nearly double from December's forecast for 2009 as air carriers grapple with the worst crisis in over 60 years, with the International Air Transport Association (IATA) saying a significant recovery in 2010 would "require more optimism than realism". The IATA has announced a revised outlook for the global air transport industry with losses of US$4.7 billion in 2009, significantly worse than its December forecast of US$2.5 billion in … [Read more...] about IATA ups ’09 forecast with $4.7B industry loss
