A new year begins, ushering out a dramatic year and- a-half that probably left many in the industry wondering why they ever launched a career in the air cargo industry! The good news is that the crisis has waned and fears of a double-dip recession appear unlikely to come to a fruition. Volumes have moderated on last year at the same time, but pretty much all agree that it was a very unusual peak season due to inventory restocking. Most see the situation as returning to a more stable environment … [Read more...] about A new year full of hope
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Where there is smoke…
There is usually fire. The smoke this time emanates from a recent safety directive issued by the US Federal Aviation Administration (FAA) stressing the fire hazards posed by lithium batteries - used in everything from pace makers to watch batteries, cell phones, portable computers and car batteries. The fire in this case is a FAA proposal regarding lithium battery safety that is sitting on US President Barack Obama's desk - a dossier that most likely contains measures that could have a very … [Read more...] about Where there is smoke…
Cargo fire suspected in crash of UPS freighter
Investigators looking into last week's crash of a United Parcel Service Inc. (UPS) B747-400 freighter in Dubai are zooming in on the possibility that a fire started in the cargo hold touching off a chain of events that led to the aircraft to crashing into an uninhabited portion of military compound in the Emirate. The freighter approached the airport too fast and too high to attempt a landing, cruised overhead and short66ly afterward crashed, killing both pilots. The cockpit was reportedly … [Read more...] about Cargo fire suspected in crash of UPS freighter
IATA warns of slower cargo growth
Global air cargo growth will slow sharply over the next year and a half after staging a stunningly rapid recovery from the international trade downturn, the International Air Transport Association (IATA) said in its recent Cargo E-Chartbook. International air cargo traffic, which has been growing at more than 20 per cent year-over-year each month since the end of the third quarter last year, was 4 per cent ahead of the pre-downturn peak of 2008 in July, IATA said. IATA now forecasts air freight … [Read more...] about IATA warns of slower cargo growth
Polar pleads guilty, fined $17 million
Polar Air Cargo, a division of Atlas Air Worldwide Holdings (AAWW), has reached an agreement with the US Department of Justice (DOJ) Antitrust Division to settle a price fixing charge involving fuel surcharges and cargo rates amongst a group of carriers. The collusion involved shipments from the US to Australia during the period from January 2000 to April 2003. Polar - not to be confused with Polar Air Cargo Worldwide, AAWW's operating subsidiary, which is not implicated - will pay a fine of … [Read more...] about Polar pleads guilty, fined $17 million
CHINA: Air freight rates out of Asia shrank 10% in June
Average air freight prices out of Asia fell 10.3 per cent in June from the month before as airlines brought capacity back into the market, according to the latest Drewry Air Freight Rate Index, by London-based Drewry Shipping Consultants. The June rate assessment for cargo out of Shanghai was still 54.7 per cent higher than the same month a year ago, but this was virtually the lowest point for air cargo rates last year. The month-to-month decline left the index at its lowest point since … [Read more...] about CHINA: Air freight rates out of Asia shrank 10% in June
