Air Freight

Despite ongoing geopolitical headwinds, the majority of airfreight analysts say that 2024 may herald the start of a new economic growth cycle for the global air cargo industry.

Experts discuss the effects of UPS replacing FedEx as USPS' main air cargo provider, and what it means for the industry.

The IATA predicts a significant increase in air parcels over the next three years, the result of a surge in e-commerce sales.

This is the first of two columns that visits the concept of “index-based variable-rate pricing” as a way to establish more market stability for both shippers and carriers.

Analysts expect the percentage of cargo booked and shipped through completely digital platforms to double to nearly 20% by 2024. To accommodate this rapid growth, large forwarders are investing heavily in digital offerings for booking, quoting, tracking, and invoicing—the ones who don’t will be left behind.

DSV said that the objective of these acquisitions are three-fold: to augment its position within the semiconductor industry; align with its new Phoenix-Mesa Gateway Airport operations; and support its growing cross-border services into Latin America. It added that these acquisitions are expected to be made official next month.

A change is coming at the top for Omaha, Neb.-based Class I railroad carrier Union Pacific (UP), with the company today providing an update “on the status and timing of the Board of Directors’ active leadership succession planning process.

In this annual webcast, group editorial director Michael Levans hosts our panel of logistics and freight transportation analysts who share their insights on rate patterns in all the major transport modes in an effort to help shippers prepare their freight transportation budget for the coming year.

Logistics Management Group News Editor Jeff Berman recently interviewed Tom Schmitt, CEO of Greenville, Tenn.-based asset-light freight and logistics services provider Forward Air. In a wide-ranging conversation, Schmitt provided Berman with an overview on various supply chain- and logistics-related topics, including: the freight economy, inflation, taking steps to manage driver turnover and Forward Air's road map for growth, among others.

Quarterly revenue—at $22 billion—increased 6% annually, and operating income—at $1.23 billion—fell 17.4% annually, with adjusted net income—at $905 million—falling 23.9%. Diluted earnings per share—at $3.44—was down 21.3% and short of Wall Street estimates of $5.48.

FedEx Express has expanded its FedEx International Connect Plus (FICP) offering to four Asia Pacific, Middle East, and Africa (AMEA)-based region, including: Indonesia, New Zealand, the Philippines, and Vietnam.

Logistics Management Group News Editor Jeff Berman recently spoke with Ben Bidwell, director of North American customs and compliance, for Minneapolis, Minn.-based global logistics services provider and freight forwarder C.H. Robinson (CHR), about the trade landscape as it relates to tariffs on various fronts, including: the United State Trade Representative (USTR) recently updating its tariff policy and reinstating 352 previously expired tariff exclusions in May, opening more than $1 billion in refund potential for importers through the end of this...

Atlanta-based global freight transportation and logistics services provider UPS said this week that is it purchasing eight new 767-300ER freighters from Boeing, which the company said will help to support its “customer-first strategy.”

Air cargo companies provide world-class service despite strong headwinds.

June’s Freight TSI reading—at 142.4—topped May’s 140.0 (downwardly revised from an original reading of 140.1), for its highest reading since BTS began tracking it in 2000. This tops the previous high, of 142.0 set in August 2019 after increasing in 19 of the 34 months since that earlier peak, according to BTS.