Global airfreight rates continued to rise last week as weather conditions, volcanic activity and wars put capacity under pressure. The latest figures from TAC Index show that the overall Baltic Air Freight Index was up 4.6% in the week to November 20 compared with the previous seven days. The increases were led by China as prices out of Hong Kong increased by 11.5% compared with a week earlier and are now down by 2.2% compared with a year ago. Outbound Shanghai increased by 5.3% compared with a week earlier reducing its year-on-year decline to 1.3% “led by double-digit gains to Europe”. “Rates from both Hong Kong and Shanghai to the US are now comfortably above where they were a year ago”, TAC said in its weekly round-up. “The overall rise was driven largely by some big moves out of China, with capacity seemingly impacted by various events including heavy snowfall in Anchorage, disrupting TransPacific traffic, plus volcanoes and earthquakes elsewhere in addition to the wars in Ukraine and Gaza.” There have been 1000s of earthquakes in Iceland over recent weeks as a volcano on the island is on the verge of eruption.

Calcutta’s Industrial & Logistics sector to record a 5-year high supply at 5.2 million square feet in 2023 and the city is witnessing an inflow of institutional funding from corporates looking to set up their facilities, CBRE South Asia, the international realty consultancy firm said in a report. The Industrial and Logistics (I&L) sector in Calcutta will record a 5-year high supply in 2023 as a result of the completion of pent-up projects across the city and its peripheries. Total I&L supply in 2023 is likely to touch 5.2 million square feet. Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE, said, “the current real estate landscape in the state, particularly in Calcutta, is witnessing a transformative phase where the infusion of quality supply is fueling absorption, propelling the growth trajectory of the state’s real estate sector. Our observation of the Industrial & Logistics sector in Calcutta recording a 5-year high supply in 2023 with a notable absorption underscores the sector’s resilience and dynamism. The anticipated absorption of 3.5 million sq. ft. in CY 2023 indicates a positive outlook for leasing activities, suggesting a potential surge in demand for commercial spaces.

Freight Systems proudly announces the grand opening of new edge certified Green Intelligent warehouse and fulfilment center in Gurugram, India. The Fulfilment centre adopts the latest technologies in warehouse design and optimized workflows for efficient and fulfilment of On-Time-in-Full Fulfilment of orders. With 20,000 pallet locations and storage area of approx. 550,000 square feet, center is strategically located in close proximity to National Highway-48, IMT Manesar, MET Jhajjar, ICD Garhi Harsaru, ICD Patli, Western Peripheral Highway, and Rewari Link Road. The State of the Art Oracle Based Warehouse Management system fully integrated with our Purchase order Management System – FRESCON provides real time visibility to all stake holders across global supply chains. “This warehouse will serve a wide array of industries, including automotive, FMCG, white goods, apparel, retail, pre-packed foods, electronics & hi-tech products, home appliances, and healthcare. Our latest facility is a testament to our commitment to meeting customer needs efficiently and a symbol of our unwavering commitment to a sustainable future. With this new center, we’re poised to deliver an even more responsive and seamless customer service experience,” says officials.

Qatar Airways Cargo announced its latest product, Drive, designed to transport various types of automobiles by air, Drive caters to the unique requirements of each vehicle – be it regular cars, vintage cars, premium or luxury models, new cars and sports cars. It underscores the carrier’s commitment to delivering meticulous solutions for both personal and commercial vehicles. Miguel Rodriguez Moreno, Head of Cargo Products said, “Drive exemplifies our unwavering commitment to precision and customer centricity. With this product, we combine technical proficiency, experienced teams and charter solutions to offer a tailored experience for the transportation of automobiles. We take pride in our expert and dedicated teams who have been involved in transporting vehicles for several years including vehicles for many global racing events. Our rigorous and meticulously designed training ensures that our dedicated staff follow handling protocols diligently at every stage of the journey.” Drive offers customers the ability to move different types of high value vehicles with engine and wheels in a safe and efficient manner, on the airline’s freighters and passenger flights to more than 160 belly-hold and over 70 freighter destinations as well as to those destinations that are not part of its scheduled services. The Drive product is equipped to offer full or part-charters catering to the airline customers’ requests, and ensuring that even the most unique and exclusive automobiles are transported with the utmost care. The airline’s specialist teams from Special Loads, Dangerous Goods, Operations, Charters and its Loadmasters collaborate to offer the optimal loadability and cost-effective solutions for all vehicles being transported. Safety is paramount and the teams take extreme caution ensuring all safety measures are followed, and vehicles are tied down and secured …

Mumbai Port Chairman Rajiv Jalota recently unveiled the highly anticipated Logi-Sys Arena, coined as The Crucible of Innovation. This initiative by Softlink Global marks a turning point in the logistics industry, emphasizing collaboration, innovation, and elevation. Logi-Sys Arena, envisioned by Amit Maheshwari of Softlink Global, emerges not just as a physical space but as a beacon of transformative ideas and innovations. Maheshwari’s vision of a collaborative platform takes physical form in this state-of-the-art facility. While dedicating the innovation center here in Mumbai, Chairman of Mumbai Port, Rajiv Jalota, said, “This visionary step of Logi Sys Arena promises to elevate not just logistics but the entire business landscape.” Dignitaries from many leading associations, veterans from the trade and new generation logisticians witness this historic launch, expressing optimism about the positive impact Logi-Sys Arena will have on India’s logistics and trade ecosystem. “The center will serve as a crucible for innovation, providing specialized training sessions, webinars, brainstorming forums, workshops, and mentorship programs. These initiatives are designed to empower professionals to forge solutions that will positively impact the global supply chain.” remarks Amit Maheshwari, founder & CEO of Softlink Global.

Stressing upon the urgent need to train logistics aspirants, CK Govil, President, ACAAI says, “India has the largest millennial and Gen Z population globally in the 25-35 age group. They form a resource that no other country has. We need to tap this strength and train them.” “Several educational institutes are including AI and related studies in their courses across industries. Companies are collaborating with top universities to offer classroom and online AI technology courses. The Ministry of Electronics and Information Technology (MeitY) has launched several initiatives to upskill the emerging generation with AI based skills. Even employers understand the significance of training their workforce in AI, and many of these employers started their AI journey with targeted initiatives to upskill their workforce in AI. This is being driven by the employees who are demanding such training, too,” he adds.

WestJet Cargo unveils a strategic arrangement operating on behalf of Awesome Cargo, a rising star in the Mexican air freight industry. This collaboration represents a groundbreaking venture, connecting Awesome’s Cargo NLU hub with North America. Kirsten De Bruijn, SVP Cargo of WestJet, says, “This collaboration brings together two visionary cargo airlines, weaving our strengths into an innovative tapestry of enhanced services for Awesome’s Cargo customers. We’re thrilled to embark on this journey with Awesome Cargo, unlocking endless possibilities for both organizations and setting new standards in the industry.” Initiated by a longstanding industry relationship, a testament to their shared vision and past triumphs in collaborative ventures. Awesome Cargo secured its Air Operator Certificate (AOC) from Mexico’s Federal Civil Aviation Agency (AFAC) on October 13 of this year. The airline strategically operates from NLU Airport (Felipe Angeles) in Mexico City. Awesome Cargo aims to become a pivotal partner in the North American and Latin American region through its NLU hub. Less than a month into its inception Awesome Cargo operated 17 missions bringing over 800 tons of humanitarian aid into Acapulco, which demonstrates the DNA of the airline and its commitment to its community. Luis Ramos, CEO of Awesome Cargo, expressed his enthusiasm, stating, “This partnership is a significant milestone for Awesome Cargo. By uniting forces with WestJet Cargo, we not only expand our reach into North America but also contribute to the evolution of air cargo transport in the region. Our shared values and commitment to excellence make this collaboration a dynamic force in the industry.”

Worldwide average air cargo prices have continued their gradual post-summer rise into the first full week of November while global tonnages have stabilised slightly above their level this time last year, according to the latest figures from WorldACD Market Data. “Halfway through the market’s traditionally buoyant fourth-quarter (Q4) period, there are no signs of any strong peak in demand with demand patterns so far broadly mirroring last year’s disappointing Q4.” After overall worldwide tonnages dropped by around four percent from the end of October into the first few days of November, preliminary figures for week 45 (November 6-12) show stable tonnages compared with the previous week and a two percent increase in global average rates, based on the more than 400,000 weekly transactions covered by WorldACD’s data.

Global air freight rates are still rising as peak season continues, according to the latest data from TAC Index, the leading price reporting agency for air freight. “The overall Baltic Air Freight Index rose a further 4.4 percent in the week to November 13 following a series of gains in September and October, cutting the year-on-year decline to only 26.4 percent.” The latest rise featured sharply higher rates out of China, which was not surprising after record snowfalls in Anchorage appeared to hit capacity on Transpacific traffic – though prices from China to Europe and the U.S. were both showing double-digit-plus gains, the update added. “The index for outbound Shanghai routes increased 8.7 percent WoW, cutting its YoY fall to only 4.7 percent, led by a sharp rise to North America. Outbound Hong Kong increased further (+0.6 percent WoW) to cut its YoY decline to 17.4 percent.”

Ras Al Khaimah-based Vaayu Group has signed an agreement to be a strategic investor in New Delhi-based Pradhaan Air Express. The agreement was announced on the sidelines of the Dubai Airshow 2023. It not only opens up business opportunities in the Middle East for Pradhaan Air Express, the agreement has revealed Vaayu’s commitment in reinforcing the business, says an official release from Vaayu. “The world’s first A320P2F aircraft, which is operated by Pradhaan Air Express, is on show at the Dubai Airshow. Pradhaan leased this aircraft from Vaayu last year, and has been in commercial service since October 2022.” Emad Al Monayea, Chairman and President, Vaayu Group says, “Vaayu’s vision is to become a significant player in the air cargo space in the years to come. This move with Pradhaan is quite strategic considering the opportunities it presents between the two regions. We are quite hopeful that we are flying in the right direction.” Vaayu plans to expand its footprint in the air cargo space with the addition of two more A320P2Fs by 2024, which will enhance capacity and improve its network, the release added. Nipun Anand, Founder and CEO, Pradhaan Air Express says, “We are pleased with the fact that Vaayu has joined us since they bring with them a great record in the aviation sector. Their invaluable expertise and their single-minded plans to increase cargo capacity bodes well for us. The Airbus range of freighter aircraft is impressive and will add immense value to Pradhaan’s plans.”