Maersk Reports 20% Surge in Q1 Air Freight Volumes Amid Strong Market Demand
Maersk's air freight division experienced significant growth in the first quarter of 2024, with volumes increasing by 20 percent year-on-year to 227,000 tonnes. This surge was primarily driven by strong demand on the Asia-Europe and Middle East-Europe trade lanes. The ongoing disruptions to ocean shipping in the Red Sea have contributed to a notable shift from sea to air freight. Despite the rise in volumes, revenue for the combined Air and LCL segment decreased by 19 percent to $372 million due to lower rates compared to the previous year. The company noted that the market demand for air cargo was stronger than initially expected.
Official Source: https://www.stattimes.com/air-cargo/maersk-q1-air-freight-volumes-rise-20-amid-strong-cargo-demand-1359074
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