Despite the challenges, the freight forwarding market seems to be headed for a rebound in the medium term due to positive indicators in global trade amidst the pandemic, according to an analysis by Transport Intelligence. The report pointed to IMF forecasts saying global trade levels are now projected to reach pre-pandemic levels in 2021 as consumer demand has remained strong throughout the pandemic. Whilst restrictions and lockdowns have decimated the services industry, the report … [Read more...] about Freight forwarding tipped to rebound despite headwinds
cargo aviation
Alibaba’s Cainiao taps Ethiopian Cargo to move vaccines from Shenzhen to Africa
Cainiao Network, the logistics arms of Alibaba, announced a partnership with Ethiopian Airlines that will ensure efficient transport of Chinese vaccines once approved to the Middle East and Africa. Operating out of Shenzhen Bao'an International Airport (SZX), which received CEIV Pharma certification from IATA, Cainiao said this will be China's first regular cross-border medical cold chain route for transporting COVID-19 vaccines once regulatory approval is on the table. The route will take … [Read more...] about Alibaba’s Cainiao taps Ethiopian Cargo to move vaccines from Shenzhen to Africa
Moderna to seek HSA approval for vaccine use in Singapore
American biotechnology company Moderna has asked the authorities in Singapore to approve the use of its Covid-19 vaccine in the city state and could arrive as early as this month if all goes well. Moderna chief executive Stephane Bancel told The Straits Times on 1 December the company is in talks with the Health Sciences Authority (HSA) in Singapore. Also read: Part 2: Are airports and ground handlers in APAC ready for a vaccine? Last month, health minister Gan Kim Yong said Singapore … [Read more...] about Moderna to seek HSA approval for vaccine use in Singapore
Air cargo demand stalls in November
The peak was not the peak season that was hoped for in November as air cargo demand fell 1 percentage point year-over-year. Air cargo saw the first decline since the road to recovery started six months ago, according to the latest industry statistics from analysts CLIVE Data Services and TAC Index. From a low of -37 percent in April, the gap in year-on-year air cargo volumes has been steadily closing in the subsequent months to the end of October, when margin versus 2019 volumes had reduced … [Read more...] about Air cargo demand stalls in November
New customs transit system seen as boon by freight forwarders in Southeast Asia
The Association of Southeast Asian Nations (ASEAN) on a virtual event last 30 November launched a new online customs transit system that could help forwarders move freight by road easily across borders in Southeast Asia. The ASEAN customs transit system (ACTS) was developed to allow transport operators to make a single customs transit declaration across multiple ASEAN countries, without the need to make repeated customs declarations or change vehicles at each border. “I believe the system … [Read more...] about New customs transit system seen as boon by freight forwarders in Southeast Asia
HK Airport Authority prices maiden US$1.5 billion perpetual bonds
Airport Authority Hong Kong (AA) today announced its dual-tranche debt securities offering of US$1.5 billion, split between US$750 million non-call 5.5-year and US$750 million non-call 7.5-year perpetual capital securities. The transaction marks the Airport Authority's first foray into the perpetual bond market, which is also the first US dollar senior perpetual offering in the public bond market from an airport globally. The proceeds from the securities will be used to fund AA’s capital … [Read more...] about HK Airport Authority prices maiden US$1.5 billion perpetual bonds