Californian Port of Oakland is anticipating a five-year run of record cargo volume beginning in 2018. By 2022, the port expects to handle the equivalent of 2.6 million 20-foot containers annually. The number would represent 8 percent more volume than the port has ever processed in a single year.
Market momentum for airfreight is carrying into the summer of 2017, with rates across 21 major east-west trade lanes up by 1.1 percent, year-over-year, to reach US$2.81 per kilogram. The latest Drewry’s East-West Airfreight Price Index indicates that, as load factors increase, demand for airfreight is outstripping new capacity coming onto the market.
Cargo volumes in the Port of New York and New Jersey are on record pace for 2017 as the first six months of this year were 4.4 percent higher than the same period in 2015, when the earlier record was set.
Carriers’ overall on-time and transit time reliability improved by 6.8%, increasing from 63.3% in May 2017 to 70.1% in June 2017. Reviewing schedule reliability by trade, nine of the 12 trades improved from May 2017 to June 2017, according to the latest data from intelligence provider CargoSmart.
With June results in from many of the world’s major cargo carriers and airports, it is clear that growth in demand for air freight is continuing to be very strong – perhaps down slightly from what we reported in May, but only slightly.
The peak-shipping season in the eastbound Pacific has yet to take off in earnest as spot rates declined slightly for the third consecutive week. By contrast, in mid-July last year spot rates were moving higher, and they remained strong through the end of the year.
June was another bumper month for US cargo airlines as the three major bellyhold players all registered double-digit percentage improvements in freight traffic. The largest US bellyhold airline, United, recorded a 22.3% year-on-year improvement in traffic in June to 280m cargo revenue ton miles. This is the airline’s tenth double-digit percentage improvement in a row […]
The Port of Los Angeles closed its 12-month fiscal year with total cargo volumes of 9.2 million TEUs, hitting its new annual record for most container throughput for a Western Hemisphere port. The volumes from the 12-month period increased by 9.7 percent, compared to 8.4 million TEU seen in the previous fiscal year ended June […]
Amid the devastating cyber attack on Maersk Group and Cosco Holdings buying OOCL with the help of Shanghai International Port Group, an interesting development on the US West Coast may have passed unnoticed. Hyundai Merchant Marine’s (HMM’s) decision to shut down its operations at its Port of Los Angeles terminal because the new alliances have […]
Airfreight growth looks set to slow over the coming months after a bumper start to the year, according to one forwarder index. The latest APAC Forwarding Index shows that in June fewer Asia Pacific forwarders noted month-on-month growth than they did in May. The index showed that 41.4% of respondents registered higher airfreight volumes on […]
©2023 MODE Transportation, A MODE Global Company / Terms of Service / Privacy Statement / Mexico Privacy / Supplier Code Of Conduct / Cookie Policy / Website Terms & Conditions / Human Rights Policy