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Global logistics market worth $6.6T in 2019, remains robust—report

Global logistics market worth $6.6T in 2019, remains robust—report

Jan. 24 | The total global logistics market size amounted to EUR6.0 trillion (US$6.6 trillion) in 2019, with the industry expected to continue to grow strong in the years ahead, according to a new report from Transport Intelligence (Ti). Amidst a slowdown in global...

Rising cost of LSFO a ‘massive challenge’ shipowners are facing overnight—BIMCO

Rising cost of LSFO a ‘massive challenge’ shipowners are facing overnight—BIMCO

Jan. 22 | The final quarter of 2019 marked a big spike in the sale of low-sulfur fuel oil (LSFO), as implementation of the mandatory IMO 2020 sulfur cap loomed, according to a new analysis from the Baltic and International Maritime Council (BIMCO). While high-sulfur...

Box carriers to see 3.3% demand growth this year, says Drewry

Box carriers to see 3.3% demand growth this year, says Drewry

Jan. 20 | The container shipping industry is expected to see only modest growth in 2020 even with the welcome signing of the “phase one” trade deal between the US and China, according to the latest “Container Forecaster” report of Drewry. The maritime...

CEVA restructuring continues with new CEO at helm

CEVA restructuring continues with new CEO at helm

Jan. 20 | A year after CMA CGM launched the tender offer on CEVA Logistics, the Swiss-based forwarder is entering its second phase of reorganization, which is “dedicated to the return to profitability” and involves changes in the top management. CMA CGM in...

Cathay Pacific’s overall traffic down but transit route, special cargo shine

Cathay Pacific’s overall traffic down but transit route, special cargo shine

Jan. 17 | Combined Cathay Pacific and Cathay Dragon traffic figures for December and for the whole of 2019 show decreases in the volume of passengers and cargo carried compared to the corresponding periods of 2018, according to a recent release from Cathay Pacific...

Vietnam’s Vingroup grounds new airline before it could fly

Vietnam’s Vingroup grounds new airline before it could fly

Jan. 15 | Vietnam’s largest real estate company Vingroup has scrapped its plan to establish an air transport business even before the airline could take off. The group made the official announcement of the pullout of its proposal on January 14 after the Ministry...

‘Battle-hardened’ carriers face another tough year but will cope—Drewry

‘Battle-hardened’ carriers face another tough year but will cope—Drewry

Jan. 15 | Nothing much will change for the container shipping industry in 2020 as it braces for another challenging and unpredictable year in terms of capacity management, but Drewry Maritime Research believes the “battle-hardened” sector will continue to cope. “We...

New VN airline seeks license to fly in Q2

New VN airline seeks license to fly in Q2

Jan. 13 | The Thien Minh Group (TMGroup), an integrated travel and hospitality group based in Vietnam, has filed for a license to operate a new airline, even as two more airline proposals also await the Vietnamese government’s approval to take off this year. Local...

AsPac air freight volumes continue to fall despite e-commerce surge

AsPac air freight volumes continue to fall despite e-commerce surge

Jan. 10 | The global air freight market registered its 13th consecutive month of year-on-year decline in volume in November, with Asia-Pacific airlines sustaining the biggest contraction among regional carriers, according to data released by the International Air...

Passenger markets still growing, freight demand remains weak—AAPA

Passenger markets still growing, freight demand remains weak—AAPA

Jan. 10 | While passenger markets registered growth in November year-over-year, cargo demand remained in decline, traffic figures released by the Association of Asia Pacific Airlines (AAPA) show. The further growth in demand in international air passenger markets...