Expeditors grows air freight volumes by 13% in third quarter
The US forwarder attributes the volume growth to demand from cloud data centre operators and the revenue growth to higher freight rates.
According to aircargonews.net, US forwarder Expeditors International moved 13% more air freight in the third quarter than a year earlier. The company’s airfreight revenue also rose. The publication sees this as a continuation of the sharp growth in Expeditors’ air freight business.
Volume growth accelerated over the summer. In July the company moved 8% more air freight than in July last year, and in August 13% more. The article gives no figures for September, and the result for the quarter matched the August figure.
Expeditors cites two reasons. Volumes grew because of demand from hyperscalers, the term for the largest operators of cloud data centres. Freight rates gave revenue an extra lift, as each kilogram of cargo earned the company more.
Rates are also rising on individual trade lanes: Air cargo rates from Hong Kong to North America up 38.7% year on year
Sources
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