Japan's Fair Trade Commission has notified more than 10 companies that they will be fined about ¥10 billion (US$103.2 million) for operating a cartel on international air cargo services. The FTC believes that the companies, including major distribution and logistics companies Nippon Express Co., Kintetsu World Express Inc. and Yusen Air & Sea Service Co., constrained fair competition by forming a cartel that added fuel surcharges and airport security charges to their air cargo service … [Read more...] about Global cargo cartel fallout lands in Japan
Freight Forwarders
Thai aircargo plummets 50% in Jan
Air cargo volumes in Thailand slumped by almost 50 per cent in January as the global financial crisis continued to hurt exports. Total outbound cargo in the final three months of 2008 fell to 107,249 tonnes, compared with 140,074 tonnes a year earlier, Dow Jones reported. "The January figures were worse than what we expected with outbound volume falling by almost 50 per cent from a year earlier," said Kasem Jaliyawatwong, president of the Thai Airfreight Forwarders Association. Thailand's air … [Read more...] about Thai aircargo plummets 50% in Jan
Thai aircargo plummets 50% in Jan
Air cargo volumes in Thailand slumped by almost 50 per cent in January as the global financial crisis continued to hurt exports. Total outbound cargo in the final three months of 2008 fell to 107,249 tonnes, compared with 140,074 tonnes a year earlier, Dow Jones reported. "The January figures were worse than what we expected with outbound volume falling by almost 50 per cent from a year earlier," said Kasem Jaliyawatwong, president of the Thai Airfreight Forwarders Association. Thailand's air … [Read more...] about Thai aircargo plummets 50% in Jan
Kintetsu profit declines
Kintetsu World Express, Japan's second-largest international forwarder, said it suffered a drop in profit on a consolidated basis between April and December from a year earlier despite revenue growth. Group operating revenue during the first three quarters of fiscal 2008 totaled Â¥221.634 billion yen (US$2.42 billion), up 4 per cent on-year. But group operating, ordinary and net profits all fell because of repeated hikes in fuel surcharges and a sharp decline in the volume of air cargo volumes … [Read more...] about Kintetsu profit declines
DHL forecasts 20% cargo drop, 1st improvement 2010
The head of DHL Global Forwarding (DHL GF), the world's largest forwarder, said the company expects shipping volume - both air and ocean shipments - around the world to decline 20 per cent in the first half of 2009 and 10 per cent for the full year, based on ongoing shipment data this year and reports from customers. Hermann Ude, chief executive officer of DHL Global Forwarding and Freight, said business out of Asia is particularly weak, with exports from China and Hong Kong, leading the … [Read more...] about DHL forecasts 20% cargo drop, 1st improvement 2010
China air traffic growth slows to single digits
China's air travel growth fell into single digits, the first time in five years, as a slowing economy hit air travel demand, according to official data. Chinese carriers handled 4.03 million tonnes of cargo last year, up 0.3 per cent from a year earlier, and 191.91 million passengers last year, up 3.3 per cent from 2007, the Civil Aviation Administration of China said on its website. Passenger traffic in December rose 8.2 per cent to 15.67 million, but freight volume fell 15.2 per cent to … [Read more...] about China air traffic growth slows to single digits
