JUPITER SEA & AIR SERVICES PVT. LTD, EGMORE – CHENNAI, INDIA.
E-MAIL : Robert.sands@jupiterseaair.co.in
Mobile : +91 98407 85202
Corporate
News Letter for Wednesday March 27, 2024.
:: Today’s Exchange Rates ::
Source : The Economic Times.
|
CURRENCY |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
DAY's
LOW-HIGH |
|
83.3325 |
-0.097504 |
-0.116869 |
83.32 |
83.43 |
83.32- 83.35 |
|
|
1.0827 |
-0.001 |
-0.09227 |
1.0837 |
1.0837 |
1.0821- 1.0833 |
|
|
105.1339 |
-0.265396 |
-0.251801 |
105.1244 |
105.3993 |
105.1244- 105.1339 |
|
|
90.2247 |
-0.183701 |
-0.20319 |
90.232 |
90.4084 |
90.2053- 90.244 |
|
|
151.7 |
0.279999 |
0.184915 |
151.42 |
151.42 |
151.452- 151.971 |
|
|
1.2615 |
-0.0021 |
-0.166191 |
1.2636 |
1.2636 |
1.2612- 1.2631 |
|
|
104.357 |
0.059006 |
0.056574 |
104.297 |
104.298 |
104.292- 104.42 |
|
|
0.5497 |
0.00 |
0.00 |
0.5495 |
0.5497 |
0.5486- 0.5503 |
/// Sea Cargo News ///
PortMiami enters new
era handling CMA CGM’s 15,000 TEU vessel
Source: VesselFinderPortMiami greeted the arrival of the CMA CGM Bali on 11 March 2024. With a capacity of 15,000 TEUs, this container ship operates along the Manhattan Bridge shipping route, linking China to East Coast ports in the United States via the Panama Canal.
"The arrival of the Bali confirms that PortMiami can welcome larger vessels. This ship symbolizes a new era in transportation by combining innovation and environmental consciousness in the shipping industry," stated Daniella Levine Cava mayor of Miami-Dade County.
"We are grateful for our partnership with CMA CGM. We are committed to collaborative and sustainable maritime practices and a greener future for our port and community," added Hydi Webb, director and CEO of PortMiami.
French box carrier CMA CGM has announced a new overweight
surcharge (OWS), which will be effective from 1 April 2024 until further
notice.
This surcharge will be applicable for cargo originating from
South America's East Coast and destined for North Europe, Scandinavia, Poland,
Baltic States, Adriatic, Black Sea, East & West Mediterranean, Middle East
Gulf, Red Sea and Pakistan.
CMA CGM will charge US$150 per dry 20ft container with a gross
weight exceeding 18 tons.
Global tank container
fleet nears 850,000 units: ITCO annual survey
The International Tank Container Organisation (ITCO) has
published its 12th Annual Tank Container Fleet Survey.
This year’s Survey estimates that, on 1 January 2024, the global
tank container fleet had reached 848,400 units worldwide, compared to 801,800
on 1 January 2023, a year-on-year growth of 5.81%.
Reflecting continued strong demand for new equipment,
approximately 56,600 new tank containers were built, compared to 67,865 new
units in the previous year – and 53,285 in 2022. However, with an increase in
the number of tanks being scrapped, or sold out of the industry, the overall
growth in the global fleet is 46,600 units.
The Survey shows how, numerically, the industry continues to be
dominated (on a global level) by a relatively small number of major tank
container operators and leasing companies. The top 10 tank container operators
account for over 297,000 tanks, representing over 50% of the global tank
container operators’ fleet. The top 10 leasing companies account for 317,740
tanks, representing about 85% of the total leasing fleet.
Commenting on the results of the Survey, Paul Gooch ITCO
President, notes: "The global tank container fleet continues to grow,
although at a slightly slower rate in 2023 compared with previous years. This
was to be expected, considering the variety of economic and geo-political
headwinds being experienced by the chemical industry, and the weakness in
global GDP growth. We also had to reckon with a correction after the record
year in 2022, which had been fed by the supply chain disruption resulting from
the Covid-19 pandemic."
He continues: “Our 2023 Report noted the ramping up of
production to meet short-term demand was likely to result in an over-supply of
tanks, and an adjustment in production rates in 2023. The latest report appears
to, at least in part, bear out that prediction, although the adjustment may not
have been as severe as expected. However, as was already evident in early 2023,
chemical companies were returning tanks as supply chain bottlenecks eased and
the need to hold ‘just-in-case’ inventories declined. Operators were also
adjusting their fleet levels and taking tanks off-lease.”
Looking ahead to ITCO’s activities in the coming year, Paul
Gooch confirms that ITCO’s aim continues to be to ensure that its initiatives,
projects, and events are designed to serve the needs of the members, and
deliver tangible value.
“ITCO will continue to drive initiatives supporting safe working
practices, environmental best practice, and efficiency improvements through
global standards and digitalization”, he says. “But we will be more diverse and
inclusive in our approach. We will also focus on expanding our geographical
footprint - recognizing the need to be more present and active in the Americas,
India, and Asia Pacific. The location of our events and agenda content will
also reflect this geographical diversity, and the need to leverage technology
advances.”
This article was written by the International Tank Container
Organisation (ITCO)
Massive
increase in container shipping imports from China into Mexico amid ongoing US
trade war: Xeneta analysis
Growth in demand for container shipping imports from China into
Mexico in January 2024 increased by 60% compared to 12 months ago, further
fuelling suspicions it has become a ‘back door into the US’.
This is now one of the strongest trade lanes in the world
according to analysts at Xeneta, an ocean freight rate benchmarking and
intelligence platform, with 117,000 TEU (20ft equivalent container) shipped in
January of this year compared to 73,000 TEU in January 2023, according to
Container Trades Statistics. Annual growth in container shipping between China
and Mexico had already increased by 34.8% in 2023 compared to just 3.5% in
2022.
Peter Sand, Xeneta's Chief Analyst, believes the latest data may
be further evidence of businesses attempting to circumvent tariffs on goods
imported from China into the United States, which have ramped up during the
ongoing trade war between the nations.
He stated, "The strength in trade between China and Mexico
was building during 2023 but the latest data for January 2024 reveals a massive
increase. It is probably the fastest-growing trade on planet Earth right now.
"A sizeable proportion of the goods arriving in Mexico by
ocean will likely be trucked into the US, which gives rise to the suspicion
that the increase in trade we are witnessing is due to importers trying to
circumvent US tariffs.
"In a purely hypothetical scenario, if this growth rate
continues, by the year 2031 there will be more containers imported from China
into Mexico than the US West Coast. That demonstrates just how rapid the
increasing rate of demand for ocean freight shipping has been.
"Only last year Mexico City opened a new cargo-only
airport, which is another sign that imports are scaling up. I doubt this is
happening due to increased demand in Mexico only, but more likely because it is
a back door into the US."
Importing into Mexico West Coast ports from China is seen as a
viable alternative to goods arriving directly into the US West Coast, but
importers will face a potentially volatile ocean freight shipping market as
volumes continue to increase.
In April 2023, Xeneta data shows long-term rates for ocean
freight shipping from China to Mexico West Coast dropped below rates into the
US West Coast at US$2110 per FEU and US$2190 per FEU respectively.
Since that point, long-term rates have swapped over five times
in terms of which trade is the more expensive before finally converging to
almost the same level on 14 March this year at US$1887 per FEU into Mexico West
Coast and US$1892 per FEU into the US West Coast.
Sand added, "A maturing trade is also a potentially
volatile trade in terms of both the cost of ocean freight shipping rates and
service reliability.
"If importers are choosing to switch ocean supply chains to
the Mexico West Coast there are risks associated with it. This is a prime
example of how the ‘best option’ for shippers is likely to change over time as
the market develops."
(The article was written by Xeneta, an ocean freight rate
benchmarking and intelligence platform)
Monaco Maersk / Source: www.vesselfinder.com
Maersk aims to improve its Asia - US East Coast service network
by restarting the TP20 service.
As of mid-April, the Danish shipping company will start
operating the TP20 with direct coverage of the Greater China Area from North to
South into Newark, Baltimore and Houston.
As a standalone service, the TP20 will be offering a stable
weekly departure and competitive transit times, noted the carrier in a
statement.
The port rotation of Maersk's TP20 service will be Qingdao
(China) – Shanghai (China) – Yantian (China) – Panama Canal (Panama) - Newark
(US) – Baltimore (US)– Houston (US) – Panama Canal
The first sailing will be the Maersk Wallis from the port of
Qingdao on 21 April.
Japan’s
Mitsui E&S to equip Bangladeshi deep-sea port
Source: CogoportMitsui E&S Japan has secured a job for the design,
manufacture, supply and installation of container handling equipment, terminal
operation system, and security system at Bangladesh’s maiden under-construction
deep-sea port at Matarbari in Chittagong.
The country’s cabinet committee on government purchase at a
meeting on 20 March, presided over by Finance Minister Abul Hasan Mahmood Ali,
approved this regard for the work costing US$73 million, according to cabinet
division secretary Mahmudul Hossain Khan. The South Asian nation began
construction of the deep-sea port on 11 November last year with funding from
Japan International Cooperation Agency (JICA).
Initially, the construction of two jetties has been started. One
is a 460 meters long container jetty and the other one is 300 meters long
multipurpose jetty. The deep-sea port will have 14 kilometres long, 350 meters
wide and 18.7 meters water draft main navigation channel. Vessels carrying up
to 8,200 TEU containers and bulk carriers of nearly 70,000 deadweight tonnage
(DWT) will be able to take berth in its jetties.
Construction of the port will require around US$2 billion and
the port is expected to cater as a transshipment hub for regional countries.
In the absence of a deep-sea port, Bangladesh’s export cargo are
currently carried by feeder vessels to the regional transshipment ports in
Colombo, Singapore, Port Klang, and Tanjong Pelapas from where they are shifted
to mother vessels to reach final destinations mainly to the West. Similarly,
import cargoes are also carried to these transshipment ports by mother vessels
from where they are carried to Bangladeshi ports by small feeder vessels. This
process is significantly increasing the costs.
Once the deep-sea port is constructed, mother vessels will
directly dock in Matarbari carrying imported goods and also go back to the
final destinations with Bangladeshi export cargoes. Officials predict both the
transportation cost and time will almost be halved. Presently a container from
Bangladesh touching the transshipment ports needs around 42 days to reach
Europe, one of the two main destinations of Bangladeshi export cargo.
Once carried using the deep-sea port the transit time will
lessen to around 17 to 18 days to reach cargoes from Bangladesh to Europe. Located nearly 70 kilometres away by
waterways from the Chittagong port, the deep-sea port is expected to start
full-fledged operations by 2026.
Oman-based Asyad Line is set to launch a container service
connecting the Far East and West India, according to information collected from
industry sources.
To be marketed as the Far East Express One (FEX1), the service
has been designed with stops in China, Vietnam, Thailand and Malaysia, in
addition to India. On the Indian leg, the string will have three ports of call:
Hazira, Mundra and Nhava Sheva.
The full port rotation is Mundra, Hazira, Nhava Sheva, Haiphong,
Shekou, Laem Chabang, Port Klang and Mundra. The first vessel is due to
dock at Mundra on 30 March. Estimated transit times from Mundra will be 13 days
to Haiphong, 15 days to Shekou, 20 days to Laem Chabang and 24 days to Port
Klang.
Established in 2020, Asyad Line was formerly known as Oman
Container Lines (OCL). In India, Seabridge Marine Agencies, reportedly
part of Mumbai-based Parikh Group, will be acting as a sole representative
agent for Asyad Line, according to available information.
The move comes as Far East imports into India have seen strong
traction in recent months, because of growing demand for raw materials and
semi-finished goods to meet manufacturing expansion in the emerging
economy. This increasingly noticeable pattern, according to trade
observers, is rooted in the so-called trade diversification that has the
potential to propel reshoring or near-shoring supply chains.
Several other niche intra-Asia carriers have introduced more
connections out of India to tap the growth potential. A new crop of emerging
feeder/regional lines, including SeaLead Shipping, TS Lines, Sinotrans and
SITC, have joined Pacific International Lines (PIL), Evergreen Marine and
Regional Container Lines (RCL) in expanding intra-Asia networks connecting to
India.
French carrier CMA CGM recently also opened a direct connection
between West India and China. The Asia Subcontinent Express 2 (AS2) offers a
rotation of Shanghai, Ningbo, Shekou, Singapore, Colombo, Mundra, Nhava Sheva,
Singapore and Shanghai.
Major
lines’ margins in negative territory for first time after five years
Mainline operators’ operating profit margins fell into negative territory for the first time since 2018, due to losses in 4Q 2023, according to Alphaliner’s report. On average, these operators’ operating margins stood at -3% in the last three months of 2023, as the Covid-19-fuelled boom ended its run. Six out of the nine largest box lines reported operating losses for the last quarter of 2023.
Only Evergreen Marine Corporation and HMM have
reported operating profits, albeit sharply reduced from the same period in
2022.
COSCO Shipping Lines will announce its 2023 results at the end
of this month, but based on its preliminary results, is expected to record a
significantly lower operating profit for the fourth quarter of the last year.
Taiwan’s Evergreen had the largest operating profit margin,
which stood at 7%, 10 times that of HMM, which only narrowly avoided a loss.
Overall, the carriers’ average margin remained positive for the year, at around
4%. For the larger operators, margins remain above those in 2019.
However, ZIM, Yang
Ming and Wan Hai
Lines reported operating losses, and hence negative margins,
over the full year, a faster-than-expected slide into red ink.
The world’s second-largest carrier, Maersk
reported the lowest margin for 4Q 2023, at -12.8%,
but remained positive for the year with a margin of 6.6%. However, the Danish
shipping company released the worst outlook for the current year, confirming it
is unlikely to stay in the black and could generate operating losses of up to
US$5 billion in 2024.
Comparisons suggest rate declines during the year affected
earnings more than volume gains. Better-performing CMA CGM and Hapag-Lloyd increased
volumes by a slight 0.5% in 2023 but saw a year-on-year decline in rates of
just 48%, while other carriers suffered rate drops between 55% and 65%.
While the Red Sea crisis and restrictions on Panama Canal
transits remain, Alphaliner said these factors make 2024 an
unpredictable year for container shipping.
Photo of
collapsed cranes – Credit: Turkey’s Directorate General for Maritime AffairsA ship operated by Yang Ming Marine Transport slammed into a
wharf in Turkey’s Evyapport on 16 March, while attempting to dock. The
2015-built 14,000 TEU ship, YM Witness, chartered from Seaspan Corporation,
reportedly knocked down three container cranes in the accident.
YM Witness, assigned to Yang Ming’s MD3 Asia-Mediterranean
service, had arrived from another Turkish port, Ambarli, had a pilot on board
and was trying to berth around 3.45pm local time when the accident happened.
Video footage taken by port staff shows that after the paddle
wheel of the YM Witness hit the wharf, a crane swayed to the right, and
collapsed after hitting another crane. As the first crane fell to the ground,
it hit a second crane.
Reportedly, a worker operating one of the cranes was injured in
the accident. Evyapport officials
said that several containers on YM Witness also fell into the waters. The
damages are estimated to be in the region of US$50 million. Information from
VesselsValue shows that since its delivery, YM Witness has been on a 10-year
charter to Yang Ming.
As of today (19 March), YM Witness remains anchored in Turkey’s
Yarimca port pending investigations and repairs. In a customer advisory issued
on 18 March, Yang Ming confirmed the accident occurred and said that the
rescheduling of ships and cargo transfers would be made in due course.
The Taiwanese shipping line stated, “Whereas navigational
behaviour and seamanship are under the supervision and management of the ship
owner, administrative enquiries and a full investigation into this incident are
currently conducted in conjunction between the ship owner and the relevant
maritime authorities. According to the ship owner, there are no casualties
following the incident and no marine pollution has materialized for the time
being.”
Evergreen
ship held up in Qingdao after collision
Ever Lucid / Source:
VesselFinder.One of Evergreen Marine Corporation’s ships has been held in
China’s Qingdao port for investigations after colliding with another vessel.
The 2014-built 8,508 TEU Ever Lucid, deployed to the Taiwanese
line’s Transpacific Northwest Service, reportedly collided with an unnamed
Chinese cargo ship around 1 am local time on 14 March. The ship set out from
Qingdao just before 10 pm local time on 13 March, while the Taipei-flagged Ever
Lucid was to have sailed from Shanghai to the port of Ningbo.
Ever Lucid’s captain found that the 12 crewmen on the Chinese
ship were in distress, and turned back to help rescue them. Local
media reports suggested that the Chinese ship did not abide by collision
avoidance guidelines.
In a press statement, Evergreen said, “Following instructions
from the local maritime authority, Ever Lucid proceeded to anchor at Qingdao.
The Chinese cargo ship was also safely moved to a berth in the port. Both crews
are currently cooperating with the maritime investigation team. Fortunately,
the accident resulted in damage only to the hulls of the ships, with no
injuries or fuel leaks reported.”
Taiwan Transportation Safety Board said that it will not open a
probe.
Board chairman Lin Shinn-der noted, “There’re no casualties, no
injuries and no major environmental impact. We will respect the Chinese
investigation effort.”
This is the second accident involving Ever Lucid. In April 2021,
the ship collided with a Chinese fishing trawler outside Zhoushan port,
resulting in the disappearance of five of the six crewmen on the latter vessel.
/// Air Cargo News ///
Silk Way West continues freighter fleet expansion
with another 777
Silk Way
West Airlines' first Boeing 777F. Photo: Boeing
Silk Way West Airlines has ordered an additional Boeing 777 freighter with the company saying the decision was driven by its “commitment to sustainability”.
Two of the six freighters have already been delivered with the
remaining due to be delivered by 2027. The aircraft announced today will be
delivered in 2025.
“At Silk Way West Airlines, we are committed to sustainability
and reducing our environmental impact,” said Zaur Akhundov, resident of Silk
Way Group.
“The purchase of this additional Boeing 777 freighter aircraft
is a testament to our ongoing efforts to operate responsibly and minimise our
carbon footprint.”
Paul Righi, Boeing vice president of commercial sales and
marketing for Eurasia added: “The unmatched capacity, range and efficiency of
the Boeing 777 Freighter will help Silk Way West Airlines expand its
world-class cargo operations.
“As the airline continues to build its modern freighter fleet,
we are proud to be a part of the journey and provide Silk Way West Airlines
with the best solutions to support its future growth.”
The airline has been expanding its fleet over recent years. As
well as its order for 777Fs, the carrier has also ordered two 777-8Fs and two
A350Fs.
Following the delivery
of its latest 777F in December, Silk Way West’s fleet
stood at two 777Fs, five 747-8Fs and seven 747-400Fs based at Heydar Aliyev
International Airport.
The Baku-based airline’s annual cargo turnover exceeds 500,000
tons, and its network covers over 40 destinations across Europe, the CIS, the
Middle East, Central and Eastern Asia, and the Americas.
In line with its fleet expansion, the carrier is also planning
to build a new
cargo airport in Azerbaijan.
AirBridgeCargo to return two freighters to lessor
AirBridgeCargo is reportedly returning two of its Boeing
freighters to their Chinese owners two years after they were grounded due to
sanctions related to the war in Ukraine.
Russian
publication RBC reports that the freighter airline is
returning two of its Boeing 747Fs to the Bank of China Aviation (BOC Aviation).
RBC said the first aircraft, a -8F with the registration VP-BIN,
was flown from Sheremetyevo International Airport to Shanghai on March 12.
Flight tracking website Flightradar 24 confirms the flight took
place.
The return date of the second aircraft (VQ-BFU) is unknown.
The return of the aircraft comes after BOC Aviation was last
year awarded
more than $400m in damages by a US court over
defaults relating to three leased Boeing 747-8Fs
The situation emerged after the Russian invasion of Ukraine in
February 2022, after which international sanctions were imposed on Russian
carriers and lessors sought to retrieve their aircraft.
As a result of the Ukrainian conflict, the European Union
prohibited insurance and reinsurance of aircraft used by Russian carriers.
Having been notified of reinsurance cancellation for the 747-8Fs, BOC informed
AirBridgeCargo that it would not be able to continue operating the jets in
Russia because the reinsurance situation no longer met the lease agreement
terms.
All three aircraft were outside of Russia – in Shanghai, Hong
Kong and Zhengzhou – on March 2 2022 when BOC issued a grounding notice to the
carrier.
BOC formally issued default notices to the carrier for all three
aircraft, and demanded their return, but it has only been able to retrieve one
from Hong Kong, which was ferried to Arizona on 25 March 2022.
The other two aircraft were flown from their location in China
to Russia the day after BOC issued the default notices.
According to FlightRadar24, the carrier still has 12 747-8Fs
(including the two being returned), three 747-400Fs and a single 777F in its
fleet, although not all are leased.
NEO Air Charter sees Red
Sea-related rise in demand
The charter firm has operated 60 widebody freighter charters in
the first two months of 2024 due to container shipping firms taking the longer
route around Africa to avoid attacks on vessels in the Red Sea.
Brian
Davis. Source: Neo Air Group
The company added that all flights carried full payloads of
e-commerce traffic between multiple shippers and their consignees and that all
charters were booked via logistics companies.
“In case anyone was in any doubt, the Red Sea attacks are
causing a lot of time-sensitive traffic to switch to airfreight,” said NEO
general manager Brian Davis. “We haven’t seen demand like this since the early
days of Covid.”
“NEO’s instant access to large-scale capacity was a strong
factor in winning the business, but we still had to prove we were providing the
most competitive quotes.”
The company said that it has also been handling record levels of
traffic in other areas such as automotive and humanitarian aid.
“We are recruiting extra staff to help us cope with the demand.
This is shaping up to be the best year since our launch in 2010,” added Davis.
Liege
Airport
Liege Airport has seen its cargo volumes bounce back in the
first two months of the year following a double-digit percentage decline in
2023.
The Belgian freighter hub registered a 13% year-on-year increase
in cargo volumes over the first two months to 175,593 tonnes while the number
of flights improved by 15% to 4,147 movements.
This follows an 11.8%
decline in cargo volumes last year due to
weak economic conditions and the restructuring of FedEx’s network with flights
switching from Belgium to Paris. It also lost AirBridgeCargo due to
restrictions following the outbreak of the Russia-Ukraine war in the first
quarter of 2022.
The airport said that the increase in demand reflected improving
market conditions over the first two months of the year.
Laurent Jossart, chief executive of Liege Airport, said:
“Despite the significant reduction in FedEx activities in 2022 following its
partial departure for Paris Charles de Gaulle, despite the loss of the Russian
cargo company AirbridgeCargo, and despite difficult market conditions, Liege
Airport is demonstrating its resilience.
“Thanks to a well-diversified portfolio of air and logistics
operators, we have overcome all these difficulties, and are on the road to
significant growth in the coming years.”
More than 40 cargo airlines now operate regularly at Liege
airport and the main customer represents no more than 15% of total volumes
handled at the airport.
Five new airlines have joined since the beginning of 2024:
Compass Cargo Airlines, My Freighter, Hong Kong Air CargoCarrier, Turkish
Cargo, Egyptair Cargo.
Challenge Airlines is also expanding its fleet with additional
freighters and extending its network with new connections to India and China.
“Finally, in recent days, FedEx has confirmed its ambitions at
Liege Airport by basing its intercontinental European air freight hub here and
has increased its daytime flights to/from the US with modern 777Fs,” the
airport added.
The airport is also pushing the use of quieter aircraft and
daytime flying as it responds to pollution/sustainability concerns.
It said that in 2021 52% of its flights were in the night. This
was down to 33% last year largely as a result of FedEx moving its flights.
The airport has changed its pricing policy to encourage daytime
flights and to give airlines financial incentives to fly aircraft with the best
acoustic performance.
“The B747-200 and 400 have been reduced from 1047 movements
(January/February 2023) to 946 movements (January/February 2024), a reduction
of 10%, and more than 72% of these movements are now carried out during the
day.
This is also in line with the new operating permit, which will
prohibit these aircraft from taking off at night from 2030 onwards,”
concluded Jossart.
DHL looks to growth with
767F lease
B767-300F. Photo: DHL
DHL is growing its Boeing 767 freighter operations through a new lease agreement with Air Transport Services Group (ATSG).
ATSG said it has commenced a new lease agreement with DHL
Network Operations (USA), Inc. under which ATSG’s Cargo Aircraft Management
(CAM) has leased a 767-300 freighter aircraft to DHL to operate within DHL’s
global network.
“As one of our longest leasing relationships, we take pride in
identifying opportunities to enhance capacity within the DHL network,” said
Paul Chase, chief commercial officer of ATSG.
“The Boeing 767 remains unrivalLed in the medium-widebody
freighter market, serving as the backbone for lessees by offering payload
capacity and range capabilities to optimize express delivery operations.”
The agreement will increase the total CAM-leased 767 fleet at
DHL to 14.
Early last year, ATSG said that DHL was expected to scale
back US freighter operations in response to economic
constraints and reduced e-commerce spending in the US, although the global
e-commerce air cargo sector did see growth in 2023 and this trend has continued
in 2024.
This reduction in DHL’s US freighter operations followed an
extension and expansion of DHL’s US
lease deals with
ATSG in 2022, during the pandemic boom for air cargo.
US-based lessor ATSG has a fleet that includes 767, Airbus A321,
and Airbus A330 converted freighters.
I reckon you have enjoyed
reading the above useful information.
Have a nice day.
Thanks & kind regards
ROBERT
SANDS, Joint Managing Director
Jupiter
Sea & Air Services Pvt Ltd
Casa
Blanca, 3rd Floor, 11, Casa Major Road, Egmore
Chennai –
600 008. India.
GST Number
: 33AAACJ2686E1ZS.
Tel : + 91
44 2819 0171 / 3734 / 4041
Mobile : +
91 98407 85202
E-mail : robert.sands@jupiterseaair.co.in
Website : www.jupiterseaair.com
Branches
: Chennai, Bangalore, Mumbai, Coimbatore, Tirupur and Tuticorin.
Associate Offices : New Delhi, Kolkatta, Cochin & Hyderabad.
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