U-Freight, an international freight forwarder and logistics services provider, said e-commerce growth has spurred growth in the air cargo market.
The booming e-commerce industry has spurred growth in the air cargo market, according to international freight forwarder and logistics service provider U-Freight.
Citing recent data from the International Air Transport Association (IATA), air cargo demand grew by 8.8 percent in November 2017 compared to the same period in 2016. IATA also reported that global airfreight in 2018 should see gains in both cargo volumes and profits.
“Whilst the fourth quarter is traditionally a strong period in air cargo, we believe that much of the growth can be attributed to the air cargo logistics associated with the boom in cross-border e-commerce activities across the planet,” U-Freight CEO Simon Wong said. “With our background in airfreight logistics, U-Freight was quick to see the potential logistics business that would result from that boom. We have been a pioneer in developing logistics services for the e-commerce market, which resulted in us being early-qualified by China Customs and CIQ as a licensed Cross-border E-Commerce Enterprise, as well as a Cross-border E-Commerce Logistics Service Provider.”
U-Freight has committed to invest in warehouses in China, Southeast Asia and North America in order to better handle e-commerce business. The company said it has also developed platforms utilized by customs authorities for data transparency.
“The e-commerce industry, led by China, is a new engine of growth for the global economy, and the value of global e-commerce transactions will only rise with increasing internet penetration and recognition,” Wong said. “The measures that we are taking by investing in infrastructure, technology and services are already paying off via increased volumes in many of the airfreight trade lanes that we serve.”