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Expeditors sees air cargo volumes and revenues rise in Q3

Expeditors International has reported a continued surge in air cargo volumes and revenues as a result of hyperscaler demand and rising freight rates. The US forwarder said that air cargo volumes were up 13% year on year in the third quarter of the year, with an 8% improvement in July, a 13% increase in August and 19% increase in September. Meanwhile, air revenues were also on the rise, increasing by 51.4% year on year during the quarter to $1.5bn. Revenues were boosted by higher volumes and also higher airfreight rates, the company said. Expeditors said that airfreight demand remained strong during the quarter, driven primarily by continued growth in South Asia, where export tonnage increased most notably. "Hyperscaler demand, which also includes shipments from Tier 1 and Tier 2 suppliers supporting AI infrastructure, was a significant driver of volume growth, while air capacity remains constrained by limited fleet expansion and ongoing new aircraft delivery delays," the company added. "Capacity was also impacted by aircraft redeployments that affected Asia-Europe e-commerce, stemming from European Union regulations meant to curb the flow of de minimis imports. "At the same time, China-US e-commerce tonnage has nearly recovered to what it was prior to the US termination of de minimis shipments in May 2025. Adding geopolitical events to this mix, airfreight rates remained elevated during the quarter, with demand outpacing available capacity." While airfreight revenues and volumes were up, the company also noted an increase in air operating costs, which grew by 52% to $1.2bn. Air Cargo News calculations show that the company's airfreight operating margin has actually declined marginally from 24.8% in the third quarter of last year to 24.3% this year. Airfreight service operating profits (airfreight service revenues minus operating expenses) reached $375m against $253m last year. The higher operating costs likely stem from higher carrier rates as demand growth has outstripped capacity additions and fuel prices have grown significantly as a result of the conflict in the Middle East. The latest IATA/Platts fuel price monitor figures show that jet fuel costs are up by more than 112% compared with last year.

Major liners set to resume all Asia-Europe services through Suez

All the mainline operators look set to resume Suez Canal transits for their Asia-North Europe and Asia-Mediterranean services. Taiwan's Evergreen will join its Ocean Alliance partners in doing just that this week, while Yang Ming and South Korea's HMM will join their Premier Alliance partners restarting Suez crossings next month. Linerlytica's report today says Evergreen will send the 16,556 teu Ever Eon and Ever Edit on eastbound Suez transits on the Ocean Alliance's NEU7/CES service on 7 and 11 November, respectively, with the 20,124 teu Ever Gifted on the alliance's MD2 service on 16 November. The Premier Alliance's Asia Mediterranean 1 (MD1) service will resume Suez transits next month, adding a new call at Sokhna to cater for Asia-Red Sea cargo. The revised MD1 rotation will call at Ningbo, Shanghai, Shekou, Singapore, Sokhna, (Suez Canal), Damietta, Ambarli, Izmit, Mersin, Damietta, (via Suez), Singapore, Kaohsiung, and Ningbo, starting with Yang Ming's 11,714 teu YM Trust at Ningbo on 13 November. The revised MD1 will turn in 84 days and will deploy 12 ships of 11,700 to 14,000 teu from Yang Ming, compared with 16 ships on the present Cape route. Shipping lines turned away from Suez and diverted vessels round the Cape of Good Hope in late 2023, after the Houthis began attacking vessels in response to Israel's conflict with Palestine. In recent months, vessel capacity constraints, and competitive pressures following a temporary easing of regional security risks, have convinced shipping lines to resume Suez crossings. Israeli carrier Zim is the only major shipping line sticking to the Cape route, possibly due to its nationality. HMM's spokesperson told The Loadstar South Korea's flagship carrier had assessed the risks before deciding to resume Suez transits. She said: "This matter was decided and agreed upon from a Premier Alliance perspective, following a comprehensive review of market conditions and safety aspects." Linerlytica said: "All three main carrier alliances, along with MSC, are set to make a full return to the Suez by Q1 27, leaving Zim as the only main carrier left on the Cape route." The Gemini Cooperation partners, Maersk and Hapah-Lloyd, have also signalled a full Suez resumption by Q1 27, and launched a new Asia-Mediterranean service that passes through the canal. The shortened sailing times do not augur well for Asia-Europe and Asia-Mediterranean rates, however, with the 1 November price hikes failing to gain traction, and further rate declines are expected in the coming weeks, as supply growth is not outpacing growth in demand. With this, shipping lines are also adding more Red Sea calls to capitalise on rising Shanghai-Persian Gulf rates. Evergreen is relaunching its China-Red Sea service on 12 November to coincide with the resumption of its Suez transits. The OGRD service will call at Qingdao, Shanghai, Ningbo, Shekou, Singapore, Jeddah, Sokhna, Aqaba, Jeddah, Port Klang, and Qingdao. The service will turn in 56 days but will initially only deploy four 7,000-9,000 teu ships, operating on a fortnightly basis starting with the 7,024 teu Ever Superb at Qingdao. MSC has extended its Far East-Indian subcontinent Shikra service to Khor Fakkan in the UAE and Oman's Sohar port, as it capitalises on the high demand and freight rates to the Middle East, despite severe congestion at these ports. The first Khor Fakkan call was made on 18 October, by the 24,346 teu MSC Micol under the new Shikra rotation that calls at Dalian, Xingang, Qingdao, Shanghai, Ningbo, Nansha, Singapore, Nhava Sheva, Mundra, Khor Fakkan, Sohar, and Dalian. The extended service will turn in 15 weeks, using up to 15 14,000-24,000 teu ships. The largest of them will call at the western Indian ports as well as Khor Fakkan and Sohar. These ships will face severe delays, especially at Khor Fakkan, with waiting times of more than two weeks to berth.

UK's East Midlands Airport wins another freighter service

The UK's East Midlands Airport has this week welcomed another freighter service connecting the Midlands airport with China. The Central China Longhao Airlines', also known as Air Central, service, will operate twice per week between East Midlands Airport and Zhengzhou Xinzheng International Airport. The first flight landed in the UK on 2 November and was operated by a Boeing 747-400 freighter. East Midlands Airport's commercial director Adam Andrews said: "We're really pleased to welcome Central China Langhao as a new airline operating to East Midlands as its gateway into the UK. "Longhao's decision to start operations here provides further evidence of the airport's growing strength and reputation within the rapidly evolving Chinese air cargo market. "We are continuing to attract more cargo operators, who understand that our great central location and available capacity, helped by a 24/7 operation, together make us an unbeatable proposition in the UK." State-owned China Central Longhao Airlines is based in China's Henan Province and played a key role in the construction of Zhengzhou international air cargo hub. According to fleet tracking site Planespotters.net, the airline operates a fleet of seven aircraft - five Boeing 737-800Fs and two Boeing 747-400Fs. East Midlands Airport has seen its cargo volumes grow by 5% year on year between January and September, while in September there was a 6.3% increase. In May last year, the airport launched cargo growth plans designed to meet an estimated 54% increase in demand for its cargo operations over the next two decades. Four plots close to the runway, totalling 50 hectares, were earmarked for cargo development. Then in July, the airport reconfigured its cargo aprons so that out of 27 cargo stands, 12 can now take wide-bodied aircraft, up from seven previously. The airport is also hoping to recruit a head of cargo development.