UK-based shipping consultancy Drewry reported its East-West Air Freight Price Index declined by 1.1 points in June to a reading of 88.7, bringing the index down to its lowest level since it was first launched in May 2012. The Index fell fell below the US$2.90 per kg threshold for the first time with Drewry saying it expects pricing to remain week for the next few months. “Whereas the eastbound trans-Pacific has taken the brunt of pricing falls in recent months, June’s decline affected … [Read more...] about Air freight rates to remain weak: Drewry
Freight Forwarders
Stifel Logistics Confidence Index down again
July’s Stifel Logistics Confidence Index, compiled by Transport Intelligence (Ti) slipped for a second consecutive month to 56.4. While it still remains higher than the same periods for 2013 and 2014, concerns over what the six month outlook may bring appears to be weighing on the market. Ti noted that demand appears to be easing off as the IATA director general and CEO noted in a recent IATA press release that business confidence is flat and export orders are in decline. He further noted the … [Read more...] about Stifel Logistics Confidence Index down again
Panalpina reports stable profits in “challenging environment”
International freight forwarding and logistics company Panalpina has kept profitability stable in the first half of 2015 despite what it said was a "challenging environment". While the group’s gross profit decreased five per cent (adjusted at constant currency rates: +2 per cent) to CHF 736.1 million (US$ 771.7 Million), EBIT and consolidated profit remained stable, reaching CHF 60.4 million (+0.4 per cent; adjusted: +7 per cent) and CHF 45.3 million (+3 per cent; adjusted: +10 per cent), … [Read more...] about Panalpina reports stable profits in “challenging environment”
Panalpina reports stable profits in "challenging environment"
International freight forwarding and logistics company Panalpina has kept profitability stable in the first half of 2015 despite what it said was a "challenging environment". While the group’s gross profit decreased five per cent (adjusted at constant currency rates: +2 per cent) to CHF 736.1 million (US$ 771.7 Million), EBIT and consolidated profit remained stable, reaching CHF 60.4 million (+0.4 per cent; adjusted: +7 per cent) and CHF 45.3 million (+3 per cent; adjusted: +10 per cent), … [Read more...] about Panalpina reports stable profits in "challenging environment"
Regional young freight forwarders announced by FIATA
FIATA has announced the Regional winners of its Young International Freight Forwarder of the Year Award. Sponsored by the TT Club, the annual award seeks to identify, recognise and encourage young talent throughout the freight forwarding community around the world. The four regional finalists, selected this year from among 16 entries representing national forwarding associations are: Region Africa/Middle East Ms Daniella Smal, Zambia Region Americas Mr Kaya Karakaya, … [Read more...] about Regional young freight forwarders announced by FIATA
Is traditional freight forwarding model obsolete?
A combination of the erratic global air and sea freight markets, a growing shift in geographic focus towards the regional and the application of advanced technology and data analysis to the market is bringing the fate of the traditional freight forwarding model into question, according to a new report from Transport Intelligence (Ti). Ti’s annual Global Freight Forwarding 2015 report notes that capacity excesses and declining rates describes a tumultuous sea freight market, while air freight … [Read more...] about Is traditional freight forwarding model obsolete?