THE world's biggest forwarder Kuehne+Nagel is expecting a muted peak season this year due to customers 'front-loading' volumes to avoid potential disruption, reports London's Air Cargo News.
Following the announcement of its third-quarter results, Kuehne+Nagel provided its perspective on the coming air cargo peak market.
The company is expecting its air cargo volumes to grow by a low single-digit level compared with last year and also sequentially. This is down on previous expectations.
'We see a muted peak season this year in quarter four,' said K+N chief executive Stefan Paul. 'This contrasts with our more bullish expectation at mid-year.'
He said this reflects the extent of front-loading earlier in the year and the reduced potential emergency demand as sea freight disruption has eased.
Explaining the front-loading trend experienced during the third quarter, Mr Paul said: 'Front-loading was a reaction by supply chain disruption sparked by the rerouting away from the Red Sea, potential fallout from port strike actions in the US and geopolitical uncertainties.
'These uncertainties persist with US election now in focus and its potential impact on trade policy,' he said.
SeaNews Turkey
Following the announcement of its third-quarter results, Kuehne+Nagel provided its perspective on the coming air cargo peak market.
The company is expecting its air cargo volumes to grow by a low single-digit level compared with last year and also sequentially. This is down on previous expectations.
'We see a muted peak season this year in quarter four,' said K+N chief executive Stefan Paul. 'This contrasts with our more bullish expectation at mid-year.'
He said this reflects the extent of front-loading earlier in the year and the reduced potential emergency demand as sea freight disruption has eased.
Explaining the front-loading trend experienced during the third quarter, Mr Paul said: 'Front-loading was a reaction by supply chain disruption sparked by the rerouting away from the Red Sea, potential fallout from port strike actions in the US and geopolitical uncertainties.
'These uncertainties persist with US election now in focus and its potential impact on trade policy,' he said.
SeaNews Turkey
