Air Freight News

Recent industry report about Air Freight company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Air Freight Market industry experts.

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Air Freight News

December 2023: Aerovision Technology Limited, ATL, and Hong Kong Air Cargo Terminals Limited agreed to install ATL's proprietary intelligent cargo temperature detection system in appropriate locations within Hactl's SuperTerminal 1. To cope with the increasing volume of hazardous air cargo and to mitigate the risk of fire, it will further enhance the safety and reliability of cargo inspections.

October 2023: A new cargo development agreement, doubling the capacity between China and Bournemouth, signed by Cargo First, the air freight business at Bournemouth Airport. The service is provided by European Cargo, based in Bournemouth, using its fleet of 76-tonne A-340 all-cargo freighters.

May 2023: FedEx launched FedEx Sustainability Insights for customer emissions tracking. This cloud-based engine uses near-real-time FedEx network data to estimate CO2e emissions for individual tracking numbers and FedEx.com accounts.

May 2023: FedEx Express improved its international delivery services to cater to customers' increasing demand for dependable and diverse services in Asia-Pacific. Customers can now access FedEx International Economy (IE) services connecting Asia-Pacific to 170 markets worldwide.

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  • January 2024: SITC signed a framework agreement with Xiamen Port Holdings Group on January 2024, aiming to boost logistics jointly. Headquartered in Hong Kong, SITC is an intra-Asia shipping logistics company. The new agreement will see the two parties focus their cooperation on route network layout, international transit, complete logistics service chain, cross-border e-commerce, hinterland cargo source expansion, port intelligence, and digital transformation.
  • May 2023: Mazagon Dock Shipbuilders enters the container manufacturing business after receiving an order from the Container Corporation of India Ltd (CONCOR) for 2,500 cargo-carrying steel boxes.
  • January 2023: AP Moller-Maersk (Maersk) announces the completion of its acquisition of Martin Bencher Group, a Danish Project Logistics expert with premium capabilities within non-containerized project logistics and global operations. With the addition of Martin Bencher, they are strengthening their ability to offer project logistics services to their international clients while providing a more comprehensive offering to various industries.
  • February 2024: Kenan Advantage Group, the largest tank truck transporter and logistics provider in North America, acquired Northern Dry Bulk, a company specializing in the transportation and storage of plastic resins for clients in the automotive, packaging, and electronics sectors across the United States and Canada. This acquisition brought 36 tractors, 91 trailers, and two terminals with two maintenance bays, along with warehouse space and trans-loading capabilities, into the KAG portfolio.
  • April 2023: Trimac Transportation announced the acquisition of American Industrial Partners (AIP) Logistics, a Central Ohio-based company specializing in bulk terminal services, transportation, and warehousing for various industries, including plastics, liquid chemicals, food-grade storage, and metal production. AIP operates a fleet comprising 13 tractors and 119 trailers alongside other yard vehicular equipment. The 52-acre facility, situated in Wapakoneta, Ohio (18 miles south of Lima, Ohio), features cold, dry, and food-grade warehousing, bulk trans-loading, and storage facilities with access to the CSX Transportation rail line, as well as dry van, reefer, dry bulk, and bulk liquid transportation services.
  • February 2023: In a bid to expand the Trincomalee Port, the Sri Lanka Ports Authority (SLPA) is expected to invest to build a warehouse and administrative building and add several other infrastructures to it, announced the Minister of Ports and Shipping of Srilanka. The Jetty would be deeper and would initiate programs to attract cruise and passenger vessels to the harbor as well. The Trincomalee Port has made profits in the recent past which would be plowed in to invest to add these infrastructures.
  • February 2023: The Trincomalee port, the fifth largest natural harbor in the world, received a JPY 1 billion (USD 7.52 million) night navigation operations facility from Japan. The project includes a state-of-the-art Vessel Traffic Management System, Radar Equipment, Lighthouse Equipment, 16 Navigation Buoys, two Mooring Buoys, two 400KV Generators, 14 Fire Pumps with machinery, and a Pilot Vessel provided by the Japan International Cooperation System (JICS) with the assistance of the Government and the People of Japan.

December 2023: Aerovision Technology Limited, ATL, and Hong Kong Air Cargo Terminals Limited agreed to install ATL's proprietary intelligent cargo temperature detection system in appropriate locations within Hactl's SuperTerminal 1. To cope with the increasing volume of hazardous air cargo and to mitigate the risk of fire, it will further enhance the safety and reliability of cargo inspections.

October 2023: A new cargo development agreement, doubling the capacity between China and Bournemouth, signed by Cargo First, the air freight business at Bournemouth Airport. The service is provided by European Cargo, based in Bournemouth, using its fleet of 76-tonne A-340 all-cargo freighters.

May 2023: FedEx launched FedEx Sustainability Insights for customer emissions tracking. This cloud-based engine uses near-real-time FedEx network data to estimate CO2e emissions for individual tracking numbers and FedEx.com accounts.

May 2023: FedEx Express improved its international delivery services to cater to customers' increasing demand for dependable and diverse services in Asia-Pacific. Customers can now access FedEx International Economy (IE) services connecting Asia-Pacific to 170 markets worldwide.

  • Jun 2023: DODO extended its Same-Day Delivery (SDS) service to Germany, reinforcing the long-term viability of Same-Day and Last-Mile Delivery.
  • Jan 2023: The investment firm Ivanhoé Cambridge has recently completed the acquisition of a first-of-its-kind last-mile logistical facility in the German city of Munich, with the participation of its asset management partner, URBZ Capital. The property, located in the Karlsfeld area of Munich, has a surface area of approximately 12,570 square meters, with an estimated 4,500 square meters of additional extension potential, and is situated on a 23,800 square meter freehold site.
  • August 2023: Apeejay Shipping Ltd (ASL) announced the acquisition of a Japanese-built vessel with a deadweight capacity of 76,812 MT. The vessel adds significant strength to the Kolkata-based company's fleet, now totaling 10 vessels and boasting a combined deadweight tonnage (dwt) of 671,332 MT.
  • October 2022: Lomar Shipping, a maritime subsidiary of Libra Group, has acquired the Bremen, Germany-based Carl Büttner Holding GmbH & Co. KG. The acquisition of the 166-year-old shipowner and manager known for its technical management expertise and strong maritime legacy is Lomar's most recent step to further diversify and grow its fleet.
  • June 2023: Hellmann Worldwide Logistics takes over PKZ Group, its long-standing air- and sea freight partner in Slovakia and the Czech Republic, and at the same time establishes its own Slovakian national company. At the same time, Hellmann takes over the services previously performed by the PKZ Group in the areas of air- and sea freight, rail transport and contract logistics, thus creating the conditions for continuously expanding its cross-product market share via its own national company.
  • June 2022: A. hartrodt expands its European network with its own company in Slovakia. The range of services offered by A. hartrodt Slovakia includes all products for transport and warehouse logistics.

February 2021: OOCL Logistics announced the expansion of its global network with the establishment of the OOCL Logistics (Costa Rica) SRL's office at a formal opening ceremony. This new office is an important milestone for OOCL Logistics as its first wholly-owned location in Latin America and a flagship office that will strengthen its ability to deliver quality services and build stronger business relationships with customers throughout Central America and global clients active in that trade region.

April 2020: GEFCO Indústria do Brasil started the assembly of utility trucks in Guaíba, Brazil, as part of a new partnership with Foton Motor Group, a commercial vehicle manufacturer. GEFCO delivered its first vehicle for Foton at the end of April, in line with the manufacturers' robust quality requirements. GEFCO's goal is to increase the production capacity to meet the needs of Foton and its dealer network while proving the feasibility of its platform in Guaíba.

  • August 2023: Digital logistics provider and freight brokerage Convoy unveiled an offering for just-in-time (JIT) trucking, with a pledge of delivery within 15 minutes of the set arrival time. Convoy spotted an opening for a more flexible service that gives shippers the ability to scale up and down in response to fast-changing conditions. Its new JIT service leverages a network of over 400,000 trucks and the IT infrastructure to find matching carriers to meet specific shipper requirements.
  • February 2023: Echo Global Logistics Inc. (Echo), one of the leading providers of technology-enabled transportation and supply chain management services, launched EchoInsure+, a new and integrated, full-coverage cargo insurance product offered exclusively to Echo’s clients. By partnering with insurance group Falvey, EchoInsure+ offers an easy way for clients to access best-in-class protection for their LTL shipments through EchoShip, Echo's proprietary online shipping platform, and Echo’s representatives.
  • January 2024: Snowman Logistics initiated operations at a newly leased multi-temperature-controlled warehouse in Guwahati, Assam. The total capacity of the warehouse is 5,152 pallets, and this facility features eight chambers and four loading bays equipped with the latest infrastructure. Specifically designed to accommodate products from ambient temperatures to minus 25 degrees Celsius, the warehouse will primarily provide storage, handling, and transportation services for ice cream, poultry, ready-to-eat food, dairy products, confectionery, bakery products, seafood, fruits, and vegetables. Other products include pharmaceuticals, specialized chemicals, and various commodities. With this expansion, the company’s overall pallet capacity has soared to 1,41,000+ pallets, strategically distributed across 20 cities, thereby expanding its foothold in Northeast India.
  • December 2023: TCI Express, with its rapidly expanding Rail Express vertical, bolstered its customer base from 250 to 2,200, extended its network from 10 routes to 125, and efficiently ensured optimal capacity utilization, thereby boosting industry growth and efficiency. TCI Express prioritizes railway delivery for cost-effective express services, optimizing economies of scale at its branches and along routes to provide efficient logistics solutions to its customers.

Air Cargo Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)