Air freight volumes through Hong Kong will continue to grow beyond the end of the traditional peak season, fueled by surging e-commerce demand from North America and Europe that shows no signs of slowing down, according to air cargo executives.<\/p>\n
The online shopping demand has set the world\u2019s busiest air cargo airport on course to handle approximately 4.5 million tons of air cargo this year, up almost 7% on last year, estimates from the Hong Kong Airport Authority show.<\/p>\n
Chandler So, air freight director for North Asia at French forwarder Geodis, said the peak season was now expected to last for at least the next two months, beyond Lunar New Year in mid-February.<\/p>\n
\u201cWe think e-commerce has driven a 20% to 25% increase in air cargo demand in Asia this year,\u201d So told the Journal of Commerce. \u201cWe started to see air freight volume rise from September and it has continued to grow. There definitely is a peak season rather than just a rise in demand.\u201d<\/p>\n
Cathay Cargo, the cargo division of Cathay Pacific, has described export volumes through Hong Kong from both the Guangdong-Hong Kong-Macau area and the wider China market as \u201cextremely robust\u201d \u2014 driven by e-commerce and dominated by trade to North America and Europe.<\/p>\n
\u201cBetween 50% to 60% of what we carry is e-commerce-related,\u201d said Tom Owen, director of Cathay Cargo. \u201cVolumes have definitely picked up compared with last year [and] buyers are re-stocking.<\/p>\n
\u201cWe are significantly ahead in cargo volumes carried this year compared with last year as belly hold passenger aircraft capacity is restored,\u201d Owen told the Journal of Commerce.<\/p>\n
The Hong Kong-based airline has been operating two charter flights a week to Mexico carrying consumer e-commerce products and is on course to handle about 1.4 million metric tons (mt) this year based on preliminary estimates against 1.1 mt in 2022.<\/p>\n
Freight rate boost<\/p>\n
The strong air cargo market out of Hong Kong and Shanghai is reflected in freight rates. HSBC wrote in a market update that air freight indices for shipments were up 36% for Hong Kong and 41% for Shanghai by early December compared with the end of the third quarter.<\/p>\n
\u201cChina’s cross-border e-commerce, particularly from Shein and Temu to the US and Europe, is driving a solid peak season for air cargo despite muted business to business volumes,\u201d HSBC noted.<\/p>\n
Details please refer to JOC news.<\/em><\/p>\n Source:<\/p>\n Wallis, K. (2023, December 22). Surging e-commerce demand lifts Hong Kong air cargo into peak season<\/i>. Journal of Commerce. https:\/\/www.joc.com\/article\/surging-e-commerce-demand-lifts-hong-kong-air-cargo-peak-season_20231222.html<\/p>\n Air freight volumes through Hong Kong will continue to grow beyond the end of the traditional peak season, fueled by surging e-commerce demand from North America and Europe that shows no signs of slowing down, according to air cargo executives. The online shopping demand has set the world\u2019s busiest air cargo airport on course to …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[78],"tags":[92],"class_list":["post-2868","post","type-post","status-publish","format-standard","hentry","category-news","tag-airfreight"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/2868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/comments?post=2868"}],"version-history":[{"count":1,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/2868\/revisions"}],"predecessor-version":[{"id":2869,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/2868\/revisions\/2869"}],"wp:attachment":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/media?parent=2868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/categories?post=2868"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/tags?post=2868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}