Freight forwarders’ expect hike in cargo from Asia in 2023

As per a recent Airforwarders’ Association survey, while the air cargo business is decelerating after one of the industry’s strongest years ever, volumes remain robust, while many forecast the first half of 2023 to be relatively positive. Forecasts indicate airfreight will account for 25 per cent of airline revenue, especially after passenger revenue has been impacted during the ongoing pandemic. The positive outlook is tempered by existing global and macroeconomic challenges that could change the current prosperity wave, but freight forwarders remain prepared for what may lie ahead, stated the survey. They expect an early peak season as companies rush to deliver shipments trapped by the COVID-19-related lockdowns in China. Some freight forwarders anticipate this concern to result in an upsurge of air cargo shipments from Asia to the US as customers seek to avoid potential maritime bottlenecks. Main concern is the availability of capacity since most passenger flights from Asia, including their belly capacity, remain grounded.