Air express fuel surcharges plummet as oil cheapens further
DHL, FedEx, UPS and TNT have further reduced their fuel surcharges for international air express shipments.
Read MoreTag: Forwarders/Agents
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UPS increases Hong Kong – Europe capacity with B747-400 flights.
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Read MoreDHL Express launches TransPacific partnership with Polar Air Cargo
On Monday, October 27, DHL Express will launch its TransPacific partnership with Polar Air Cargo, a subsidiary of Atlas Air Worldwide Holdings, Inc. The inaugural flight will take off at Hong Kong International Airport (HKG) with destination Wilmington (ILN) at 16:00 hrs, local time.
A Block Space Agreement (BSA) guarantees DHL Express access to 6 Polar Air Cargo Boeing 747-400F aircraft that will serve eight key destinations in Asia and the U.S. The partnership strengthens DHL’s leading position in the international express market through an improved offering on one of its major intercontinental trade lanes.
DHL will utilize Polar Air Cargo’s scheduled weekday flights from Los Angeles, Wilmington and New York via Anchorage to the Asian destinations of Hong Kong, Shanghai, Seoul and Tokyo. In addition, the partnership also covers an extended weekend schedule, with flights to Honolulu, Sydney, Sharjah and Leipzig.
Volume on DHL’s TransPacific routes has been steadily increasing in recent years and despite a slowdown in 2008, overall TransPacific air cargo volume is expected to show double digit growth in the mid-term.
International express fuel surcharges drop as oil prices decline
DHL, FedEx, UPS and TNT have significantly reduced their fuel surcharges for international air express shipments around the world this month against a background of a continued sharp fall in oil prices largely driven by the escalating global financial crisis, CEP-Research analysis shows.
Oil prices have declined sharply from a peak of nearly USD 150 a barrel in July to below USD 85 a barrel this week on the various trading exchanges. In September, the integrator’s fuel surcharges were largely stable and did not fully reflect the downward trend. This is because the four leading express carriers calculate their surcharges based on indexes showing the previous month’s oil price level and announce them in advance for the following month, thus resulting in a two-month time lag between prices and surcharge level.
In October, however, surcharges show a clearly recognisable drop around the globe, with the biggest reductions in the USA, significant falls in Asia and moderate reductions in Europe.
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