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Global Airport Services to Expand 15% Annually on Asian Cargo Growth

Report Ocean recently estimated that the global airport services market size will reach 230.8 billion U.S. dollars (25.38 trillion yen) in 2027, which is calculated to expand at an annual rate of 14.8% over the seven years from 2021. The current main areas of global airport services are Europe and the United States, but in the 2020s, the Asia-Pacific region is expected to expand its market due to increased cargo traffic and other factors. This is a reflection of the "economic shift" in the world. The growth forecast for airport services is based on indicators such as the opening of new airports, new routes, and data on air cargo and passenger traffic. The company points out that the contribution of cargo transportation to market growth is that "improving economic conditions have led to increased corporate profits and increased manufacturing activity around the world, which has prompted airlines to operate more flights to transport more cargo. As a result, the overall market is expected to grow steadily.

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CCFI Summary week 6

Ocean freight rates increased via the West Coast of North America (+8.4%) and via the East Coast of North America (+5.8%). Decreases were seen in South Korea (-7.7% week-on-week) and Europe (-3.4%).

CCFI Summary week 1

Ocean freight rates increased in South Korea (+4.5% week-on-week), via the East Coast of North America (+4.0%), and Europe (+6.6%). Freight rates decreased via the West Coast of North America (-1.5%).

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