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WHAT A DIFFERENCE A YEAR MAKES BY Glyn Hughes, Director General of The International Air Cargo Association TIACA By looking at the pure data, the numbers would indicate that air cargo volumes have not just returned to pre-Covid levels but, in fact. the industry has moved on beyond them, with the last six months showing double-digit growth compared to 2023. But this then generates several often-asked questions; Where is the business coming from? Will it continue? What will happen in Q4? Is it all e-commerce? The answers to those questions are not easily addressed. What we do know November 2023 saw Houthis in Yemen announce they would attack commercial ships associated with Israel, the US and Europe sailing through the Red sea in response to Israel’s military action in Gaza. Up to the middle of July, Bloomberg reported that there have been over 65 reported incidents with 18 ships having been struck with missiles. Despite military action targeting the missile launch sites, the attacks continue. Maritime analysts and risk assessors suggest that the attacks will likely to continue for the remainder of 2024 and into 2025. Maritime operators have stressed they will not return to the shorter more efficient Red Sea shipping lanes until it is safe to do so for crew and cargo. The consequential impact on journey times from Asia to Europe and on overall shipping costs has resulted in the narrowing of air cargo / maritime differentials. A more competitive air cargo industry results in increased volumes. Shortages in shipping containers also promote a shift to air cargo. To learn more, read the article: https://lnkd.in/ehMU3iUk #AirCargo #AirFreight #SupplyChain #Logistics #AirCargoWeek #ACW #Cargonews

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