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K+N claims market share gains as 'strong' air cargo peak gathers pace

Kuehne + Nagel attributed most of its third-quarter airfreight growth to market share gains, and expects to keep winning business into 2027 as a strong peak season gets under way. Airfreight volumes rose 10% year on year, with chief executive Stefan Paul estimating underlying market growth at 3-4% and attributing 60-70% of K+N's growth to market share gains. "[It's] pretty much coming from hard cargo. Hard cargo had a double-digit increase in terms of volume this quarter, and ecommerce went down significantly," he told analysts yesterday. Asked whether further market share gains would follow next year, he replied: "Similar to this year, it should continue." Separate analysis from Aevean illustrates the weakening backdrop for Chinese low-value ecommerce air exports. Tonnage fell 19% year on year in September, taking the decline over the first nine months to 4%. Low-value ecommerce volumes to Europe halved in September, while those to North America were down 4%. Technology has also replaced business lost from the automotive sector, revealing a longer-term shift in the forwarder's airfreight customer base. Mr Paul recalled that, five to seven years ago, K+N had a strong automotive business out of Europe, serving major manufacturers and their first- and second-tier suppliers. That business had been replaced by technology cargo, he said. "I wouldn't say we have an overdependency now on this, but it has replaced the shrinking auto sector on a one-to-one basis." Management declined to quantify its technology exposure or specify the contribution of hyperscaler customers to growth. However, chief financial officer Markus Blanka-Graff confirmed that "the hyperscaler is a good part of our growth in 2026". "I think our view currently is that growth in that space, with the customers we continuously gain, is also going to continue into 2027," he added. Mr Paul said half of K+N's airfreight capacity came from its own charter operations, with the remainder covered by block space agreements. Improving the cargo mix, with a focus on hard cargo, would remain a priority into next year, he added. Mr Blanka-Graff explained: "The stronger profitability, the stronger margins are on the hard cargo side and special products, healthcare side, hi-tech side." However, one analyst questioned why the changing mix was not producing a stronger airfreight yield performance. Management reiterated its expectation of stable yields, without quantifying the contribution from the shift in cargo. K+N's airfreight volumes increased 7% sequentially in the third quarter, while ebit rose 84% year on year, to CHF169m ($205m). Its air logistics conversion rate reached 32%, against 23% a year earlier. Mr Paul said the forwarder expected its third-quarter volume development to continue into Q4, with stable yields. "We have just started in the peak season, but I would say it's strong. Is it even stronger than the Q3? [That's] to be seen, but it's definitely strong." Meanwhile, airlines are adding winter capacity. Qatar Airways Cargo has announced weekly 777 freighter services through Copenhagen from 25 October, and Warsaw-Chicago from 26 October, followed by a weekly rotation serving New York and Atlanta from 1 November. It has also introduced twice-weekly Dallas freighters. IAG Cargo's winter schedule includes three weekly Gatwick-Colombo flights, scheduled to begin today, alongside a doubling of Gatwick-Bangkok frequencies to six a week, broadening forwarders' bellyhold options on Asian lanes.

China-India rates ease but port delays still a strain on services

Rates for containers moving from China to India have begun to cool as seasonal import demand, associated with India's festival-driven consumption, loses momentum. New data secured by The Loadstar points to a 10%-20% decline in spot rates for bookings from major Chinese load ports to India, particularly JNPA (Nhava Sheva) on the west coast and Chennai on the east. For example, Indian importers are now able to book a 40ft shipment from Shanghai to JNPA at about $3,200 per box, down from about $3,800 a month ago. Likewise, rates ex-Shanghai to Chennai have dropped to $3,200 per 40ft from $3,900. Ocean rates from other Asian hubs like Hong Kong and Singapore to India have also begun to trend down, after remaining elevated over the past two months, according to the data. Hong Kong-JNPA rates are currently in the region of $3,600/40ft, down from $3,800 a month ago, while carriers are booking freight from Singapore to JNPA at about $3,400/40ft, 5% lower than in September. Spot rates from Hong Kong to Chennai have fallen 15%, to $3,300/40ft, the data indicates. But executives at leading intra-Asia carriers claimed the latest moderate correction should not be seen as the onset of a broader cyclical downturn as, according to them, trades from Asia to India and the Middle East still remained caught up in port challenges and delays across the region. "Our Asia-India-Middle East vessels continue to operate under a lot of operational strain on the Persian Gulf end," one source told The Loadstar. "Delays at Khor Fakkan are not getting any better." Amid sliding sailing schedules for Asian services, vessel bunching added considerable berthing window pressure at JNPA recently. However, India-China trade indicators are bullish. According to available data, Indian imports from China, by value, saw a meteoric rise in the first three quarters this year, up 23% year on year, underscoring the strength of trade flows that had helped propel the resurgent demand for container shipping. While trade between India and China has historically favoured Beijing by a massive margin, India's exports to China have gained measurable pace in the past few years as a result of accelerated bilateral negotiations. The rebalancing has also provided regional carriers with reasonably better cargo yields on the backhaul. Freight from India for intra-Asia operators in the past had been in negative territory, often involving $5 per container for insurance coverage. The demand boom has also driven an influx of fresh capacity into the tradelane, mainly connecting intra-Asia markets into JNPA and Chennai in recent months. India's overall export trade outlook has significantly strengthened in recent months, despite the supply chain turmoil plaguing major trade routes. According to provisional data, India's fiscal year 2026-27 H1 exports, by value, were up 18.5% year on year, growth mainly driven by electronics, engineering goods, chemicals, and agricultural products. "The strength of the first-half performance lies in the diversity of its growth drivers," said SC Ralhan, president of the Federation of Indian Export Organisations. "Sustaining this balance, while expanding our market reach, will be crucial in the second half of the financial year," he added.

RICO case against CH Robinson & TQL: motions find the fault lines - and Ohio is the surprise

Right, so: only a few weeks after I mapped where the racketeering case against CH Robinson and Total Quality Logistics was most exposed, TQL has asked a Texas court to end it. The arguments are familiar. The Ohio forum-selection clause is not. I would love to claim a gift for prophecy. The truth is duller. When a civil RICO complaint lands, defense lawyers reach for the same handful of tools, and anyone who has watched federal courts take these ...