China's index of export container transport edged up in the past week, according to the Shanghai Shipping Exchange.
“Although this small recovery does not promise a full rebound any time soon, in a number of markets some guarded optimism may be justified.”
Chinese warehousing robotics startup Geek+ announced it has raised over $200 million in Series C investment, one of the largest rounds closed in the warehousing industry to date. The company continues to remain the most funded warehousing robotics startup in the world with a Series B investment of $150 million in late 2018 and total funding of nearly $390 million.
Air freight load factors rose to a new high in the week to 14 June thanks to a week-over-week reduction in capacity in the past three weeks combined with a slight rebound in air freight volumes in the first two weeks of June, according to new figures from CLIVE Data Services.
French-based third-party logistics provider FM Logistic on Wednesday reported 21% year-over-year growth in earnings before interest and taxes (EBIT) for its fiscal year ended March 31.
Freight forwarders and their customers are adapting to a fast-changing air freight environment, with some continuing to operate substantial COVID-19 air charter programmes while others report a slowing in global demand in recent weeks for urgent PPE shipments and a relatively high level of ‘passenger-freighter’ operations helping to limit the need for cargo charter flights, although some ‘passenger-freighter’ operations are now dropping away.