Lithuania Freight Forwarding Services
Air, Sea & Road Freight Between Lithuania and the UK

DSV air volumes hit by weak Europe and reduced Asia-Europe e-commerce

DSV's airfreight business faced third quarter challenges including weak activity in Europe and reduced Asia Pacific-Europe e-commerce demand. Airfreight volumes fell by 3% to 560,890 tonnes in the third quarter compared to the third quarter of 2025. Overall, volumes grew 15% year on year in the first nine months of 2026. As well as reduced e-commerce shipment volumes on the Asia Pacific-Europe trade lane and Europe-APAC volumes that were below expected levels, the Denmark-headquartered freight forwarder said its air volumes were also negatively impacted by yield management initiatives and shippers shifting cargo from air to sea transport. Meanwhile, DSV pointed out that the Middle East conflict continued to disrupt global airfreight networks, leading to higher costs and volatility, flight rerouting and reduced effective capacity. Although technology, including cloud, demand in in APAC and North America helped lift volumes. "Despite a positive volume trend during the quarter, the decline was larger than expected. Volumes were impacted by yield-management initiatives, conversion from air freight to sea freight, lower-than expected activity in Europe and reduced e-commerce volumes on the APAC-Europe trade lane. "This was partially offset by growth within Technology business in APAC and North America. Middle East-related trade lanes remained weak due to the ongoing conflict in the region." Despite the drop in volumes, airfreight revenue for the quarter was up 16.6% to Dkr24.6bn and air gross profit improved 4.3% to Dkr5bn. DSV commented that average gross profit yields increased "8% YoY in constant currencies". Revenue for the air and sea division was Dkr45.5bn, up by 15.9% in constant currencies terms. This was "mainly driven by increased freight rates and surcharge recovery, especially in air freight", said DSV. Meanwhile, gross profit was Dkr9.2bn. This was an increase of 0.2% year on year, dragged down by the performance of the sea business, where gross profit was down 4.2% "Gross profit was affected by negative volume growth in certain European markets, as well as the transfers of certain services to Global Products," said DSV. "Adjusted for these transfers, gross profit increased 2.8% YoY." It further stated: "In constant currencies, the gross profit was on level with last year. Higher average gross profit yields for air freight and integration synergies were offset by lower freight volumes across both air and sea freight." Across the whole business DSV reported revenue of Dkr80.6bn, up 12% year on year. DSV reported gross profit of Dkr20.3bn, an increase of 2.3% compared to the same period last year. Jens Lund, DSV Group chief executive, said: "We delivered earnings growth in a volatile market, driven by strong results in Air & Sea and Contract Logistics. "Road was affected by integration-related operational issues, but service levels recovered by quarter-end, allowing us to shift our focus to productivity, commercial initiatives and organic growth. "We remain focused on completing the Schenker integration, realising synergies and advancing our 2030 ambitions through investments in AI, technology and network optimisation." Schenker integration The integration of Schenker has largely continued as planned, said DSV. At the end of the third quarter, almost all of the countries with operations "have either completed integration or are in the process of integrating". However, there are a small number of countries where integration is expected to start during the fourth quarter. The Road division in particular has seen operational and commercial challenges in certain European markets following the integration. "Annual synergies are still expected to be at the level of DKK 9 billion, partly offset by inflationary pressure and costs related to increased activity in Contract Logistics," said DSV. "The remaining synergies related to Road and certain Group functions are expected to be delayed into 2027 due to the operational issues in Road."

TAC reports another surge in airfreight rates

The latest data from TAC Index, the price reporting agency on airfreight markets and the calculating agent for the Baltic Air Freight indices, show that rates have surged again of late. The global Baltic Air Freight Index gained 4.7% over the seven days up to 19 October, reaching a figure 26.4% up year on year - and above the highest points of the last two peak seasons, which typically occur in the run-up to Thanksgiving in the US and Christmas in Europe. This year, TAC noted, rates were already starting from elevated levels resulting from disruption to markets caused by the conflict in the Middle East and the war between Russia and Ukraine. These same conflicts have also caused a surge in jet fuel prices - up by 113.7% year on year to 16 October according to the latest IATA Jet Fuel Price Monitor. This will, TAC said, "put a hard floor under rates at which airlines will carry cargo". Geographical variations The surge in global airfreight market rates was led by a strong week-on-week increase in rates on the busiest lanes out of China to the US - as well as to a lesser extent to Europe, where rates have been lagging somewhat since July following a fall in volumes following the end of the old de minimis exemption from customs duty for small parcels coming into the EU. Spot rates out of Hong Kong and Shanghai have also been rising lately. Rates from Europe were by contrast a little softer week on week compared to recent increases - with falls overall on transatlantic lanes to the US as well as to India, Japan, Australia and South Africa, although there were further gains on lanes to China, Mexico, Brazil and the UAE. The index of outbound routes from Frankfurt fell by 6.6% week on week, although they remained well up year on year at 33.7%. Outbound London Heathrow rates also slipped a little, by 2.3% week on week, though they remained well above last year, up by 35.2% year on year. Rates were mostly firmer week on week out of North America on lanes to China and elsewhere in Asia as well as to South America, led by further gains on the busiest routes southbound from Miami. However, rates were also a little lower from the US on transatlantic lanes to Europe and the UK. There was also a further big gain week on week in rates from Mexico to Europe, leaving them well up year on year. Up on last week The previous set of week-on-week comparison figures from TAC Index, as reported by ACN, showed that there had been a slight drop in airfreight rates then as a result of the Golden Week celebrations in China, but overall the market remained firm heading towards the peak season. The figures for the week up to 12 October from the Baltic Air Freight Index showed that rates edged 2.1% lower that week, which "was not unusual for the Golden Week holiday period in China when factories often shut down and volumes decrease", according to TAC Index. However, TAC also highlighted that the market remained firm as the industry heads into the peak season and there was potential for rates to rise further - as has clearly been the case, judging by this week's latest data.

Qatar Cargo adds new freighter connections to Denmark, the US and Poland

Qatar Airways Cargo is adding new freighter services to Poland, Denmark and the US as part of its winter schedule network. The combination carrier's new freighter services will cover Copenhagen, Warsaw, New York JFK, Chicago and Dallas. The new Boeing 777 freighter service to Copenhagen will operate on a loop of Doha-Budapest-Copenhagen-Doha to support growing export demand from Denmark and Southern Sweden. The service will operate weekly and is due to launch on 25 October. The carrier said the new freighter flight will complement its 10 weekly Boeing 787 passenger services to the city, which provide more than 100 tonnes of bellyhold capacity in each direction, per week. The new Warsaw service will operate on a loop of Doha - Warsaw - Chicago - Brussels - Doha. "The Boeing 777 freighter service will offer Polish exporters and manufacturers direct access and capacity to US markets," Qatar Cargo said in a press release. The service is due to start on 26 October and will complement the airline's twice-weekly freighters to Katowice and 10 weekly wide-body passenger flights to Warsaw to increase total cargo capacity to and from Poland to more than 435 tonnes each way. Across the Atlantic, in North America, Qatar Airways Cargo will launch a weekly 777F service routing Doha - Liège - New York (JFK) - Atlanta - Liège - Doha on 1 November. This is in addition to the carrier's 14 weekly bellyhold flights to and from New York and is set to increase weekly cargo capacity to more than 226 tonnes each way. The New York/Atlanta service is not the only transatlantic expansion announced by the carrier in recent weeks - the carrier added a weekly 777 freighter service Doha - Liège - Dallas - Doha flight. "All these services will cater to key industries including pharmaceuticals and healthcare, aerospace, technology and energy, perishables, high-value and time-sensitive shipments, vehicles and oversized cargo, as well as general and industrial shipments while providing customers access to the airline's global network of over 160 destinations," the airline said. Other carriers have also been announcing changes to their freighter network in recent weeks ahead of the winter season. Earlier this week, Air Canada announced the expansion of its flights to Europe and Latin America. Meanwhile, Lufthansa Cargo has added extra Asia Pacific capacity.