Gloomy forwarders expect little change in mediocre air cargo market

Little change is expected in air cargo market conditions in the coming months, as soft demand, capacity increases and downward pressure on rates remain dominant, according to two major forwarders.

“We expect these same trends to continue in all markets in the third quarter,” Claude Picciotto, director airfreight at Bolloré Logistics, told The Loadstar.

His counterpart at Geodis, forwarding EVP Martin Neuville, added: “At this stage, there is no indication of a significant recovery in demand. While we should benefit from an upturn during the end-of-year peak, we do not foresee any real return to growth before 2024 at best. ‘Supply’ continues to grow with the spectacular increase in capacity offered by the return of passenger flights.”

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