Air freight market is being revolutionized by digital bookings
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Despite the global pandemic, progress across all the world's major cargo markets is accelerating, but air freight is evolving at perhaps the fastest pace.
A TAC Index report said rates to transport goods from Hong Kong to either North America or Europe rose this week as importers anxious about depleting holiday stockpiles flew over bottlenecks on the ground.
Cruising Altitude
In recent weeks, air cargo rates from Asia reached record levels to the U.S. and Europe
Initial demand was driven by the urgent need for health-care supplies such as vaccines and personal protective equipment, regardless of cost, and the shift to e-commerce by consumers. Passenger jets remain grounded, severely limiting capacity.
Despite the pandemic, air freight bookings have become simpler and faster thanks to platforms like Webcargo. In a year, it has seen its bookings grow more than 1000%, and the share of capacity digitized from the top 100 airlines has grown from 8% to 29%.
The FedEx Hong Kong crew base has closed due to covid cases
WebCargo with Freightos connects to more than 10000 freight-forwarding offices globally for real-time cargo quotes and bookings with airlines such as Qatar Airways, Turkish Airlines, Air France-KLM, IAG, among others. In the past year, bookings jumped six-fold between October 2019 and October 2020.
Flying Off the Shelf
Digitalized air-cargo capacity shares surged on WebCargo's top 100 carriers
It's no wonder that the normally unsung world of air cargo was making waves at the Dubai Airshow this week. There, leasing giant Air Lease became the first customer for the Airbus A350 freighter, as part of a tentative agreement to purchase 111 narrow-body and wide-body aircraft.
Covid's push for on-demand shipping, along with reduced capacity and increased volatility, led to exponential growth in digital air cargo bookings and a tenfold increase from 2020 to 2021, said Manuel Galindo, CEO of WebCargo. Air cargo digitization will continue to be a mainstay of the post-Covid era.
The American consumer is still showing little sign of rebalancing consumption to a more balanced expenditure on services over goods, with an increasing reliance on imported goods, according to two shipping-data indicators. Flexible Exports' Post-Covid Indicator reads 123 for December, up from 122 in November and showing the 11th straight month above 100, the baseline that was set in mid-2020 after the coronavirus outbreaks and subsequent travel bans.
Todays Must Reads
The high cost of ocean shipping could translate into an increase in global consumer prices of 15% in 2023, with smaller, trade-dependent countries potentially suffering the most, the UN Conference on Trade and Development reports.
The cost of eating is outpacing its prices at Walmart and Target. The two companies are not scrambling to close the gap. Lowes also raised its sales forecast and reported stronger-than-expected revenue for the current year.
Efforts to control the cost of next-generation telecom equipment used by Deutsche Telekom and others were compromised when the European Union imposed tariffs of up to 44% on optical-fiber cables from China.
Amazon, playing cards, is considering switching its co-branded credit card to Mastercard amid tensions with Visa, a feud that has already prompted the retailer to ban the payment giants' cards in the U.K. starting next year.
Increasing the weight limit for trucks transporting goods into and out of California's ports will ease supply-chain bottlenecks and free up dock space at Los Angeles and Long Beach.
اسعار شركات الشحن الدولي Europe: Auto sales tumbled to their lowest level in October, with manufacturers hoping the protracted shortage of chipslicing production is finally easing.
The Bayers CEO said labor costs will increase next year, as multinational pharmaceutical companies grapple with their supply chains.
Stephanomics In this episode, Stephanie Flanders discussed Singapore's determination to move forward with New Economy Forum annual meeting of political, business, and academic leaders with NEF editorial director Andrew Browne.
On the Bloomberg Terminal
The North American rail traffic plunged 45% in the week ended Nov. 13, according to AAR data. As washouts near the port of Vancouver contribute to record congestion at Southern California ports, intermodal volumes continue to struggle. The supply chain might take a break over Lunar New Year to alleviate some of the backlog at port and inland terminals, Bloomberg Intelligence reports.
It's a long cruise Automakers have thousands of parts to manage into new vehicles and very few options for preventing disruptions such as the chip shortage that has devastated global supply, Bloomberg Intelligence reports.
You can use AHOY to track global commodities trade flows.
You can read automated stories about supply chains HERE.
BloombergNEF provides insights into clean energy, advanced transport, digital industry, innovative materials, and commodities.
VRUS on the terminal provides news and information on the Coronavirus, while this is where you will find maps and charts.
Like Supply Lines?
Dont keep it to yourself. pop over to this site Colleagues and friends can sign up here. The New Economy Daily gives you a briefing on global economic developments.
A TAC Index report said rates to transport goods from Hong Kong to either North America or Europe rose this week as importers anxious about depleting holiday stockpiles flew over bottlenecks on the ground.
Cruising Altitude
In recent weeks, air cargo rates from Asia reached record levels to the U.S. and Europe
Initial demand was driven by the urgent need for health-care supplies such as vaccines and personal protective equipment, regardless of cost, and the shift to e-commerce by consumers. Passenger jets remain grounded, severely limiting capacity.
Despite the pandemic, air freight bookings have become simpler and faster thanks to platforms like Webcargo. In a year, it has seen its bookings grow more than 1000%, and the share of capacity digitized from the top 100 airlines has grown from 8% to 29%.
The FedEx Hong Kong crew base has closed due to covid cases
WebCargo with Freightos connects to more than 10000 freight-forwarding offices globally for real-time cargo quotes and bookings with airlines such as Qatar Airways, Turkish Airlines, Air France-KLM, IAG, among others. In the past year, bookings jumped six-fold between October 2019 and October 2020.
Flying Off the Shelf
Digitalized air-cargo capacity shares surged on WebCargo's top 100 carriers
It's no wonder that the normally unsung world of air cargo was making waves at the Dubai Airshow this week. There, leasing giant Air Lease became the first customer for the Airbus A350 freighter, as part of a tentative agreement to purchase 111 narrow-body and wide-body aircraft.
Covid's push for on-demand shipping, along with reduced capacity and increased volatility, led to exponential growth in digital air cargo bookings and a tenfold increase from 2020 to 2021, said Manuel Galindo, CEO of WebCargo. Air cargo digitization will continue to be a mainstay of the post-Covid era.
The American consumer is still showing little sign of rebalancing consumption to a more balanced expenditure on services over goods, with an increasing reliance on imported goods, according to two shipping-data indicators. Flexible Exports' Post-Covid Indicator reads 123 for December, up from 122 in November and showing the 11th straight month above 100, the baseline that was set in mid-2020 after the coronavirus outbreaks and subsequent travel bans.
Todays Must Reads
The high cost of ocean shipping could translate into an increase in global consumer prices of 15% in 2023, with smaller, trade-dependent countries potentially suffering the most, the UN Conference on Trade and Development reports.
The cost of eating is outpacing its prices at Walmart and Target. The two companies are not scrambling to close the gap. Lowes also raised its sales forecast and reported stronger-than-expected revenue for the current year.
Efforts to control the cost of next-generation telecom equipment used by Deutsche Telekom and others were compromised when the European Union imposed tariffs of up to 44% on optical-fiber cables from China.
Amazon, playing cards, is considering switching its co-branded credit card to Mastercard amid tensions with Visa, a feud that has already prompted the retailer to ban the payment giants' cards in the U.K. starting next year.
Increasing the weight limit for trucks transporting goods into and out of California's ports will ease supply-chain bottlenecks and free up dock space at Los Angeles and Long Beach.
اسعار شركات الشحن الدولي Europe: Auto sales tumbled to their lowest level in October, with manufacturers hoping the protracted shortage of chipslicing production is finally easing.
The Bayers CEO said labor costs will increase next year, as multinational pharmaceutical companies grapple with their supply chains.
Stephanomics In this episode, Stephanie Flanders discussed Singapore's determination to move forward with New Economy Forum annual meeting of political, business, and academic leaders with NEF editorial director Andrew Browne.
On the Bloomberg Terminal
The North American rail traffic plunged 45% in the week ended Nov. 13, according to AAR data. As washouts near the port of Vancouver contribute to record congestion at Southern California ports, intermodal volumes continue to struggle. The supply chain might take a break over Lunar New Year to alleviate some of the backlog at port and inland terminals, Bloomberg Intelligence reports.
It's a long cruise Automakers have thousands of parts to manage into new vehicles and very few options for preventing disruptions such as the chip shortage that has devastated global supply, Bloomberg Intelligence reports.
You can use AHOY to track global commodities trade flows.
You can read automated stories about supply chains HERE.
BloombergNEF provides insights into clean energy, advanced transport, digital industry, innovative materials, and commodities.
VRUS on the terminal provides news and information on the Coronavirus, while this is where you will find maps and charts.
Like Supply Lines?
Dont keep it to yourself. pop over to this site Colleagues and friends can sign up here. The New Economy Daily gives you a briefing on global economic developments.
