Maritime





Monday November 9, 2009

Positive factors for airfreight


KUALA LUMPUR: The global airfreight industry hopes the current pick-up in business volumes can sustain beyond the year-end peak season, underpinned by the continued recovery in the US and Asian economies.

World Air Cargo Organisation (WACO) chairman Wibo Aris said the current air cargo growth was predominantly supported by the year-end trading peak season and questioned whether it was sustainable.

Nevertheless, he said, there were positive factors, such as the third-quarter growth in the US economy and a recovery in Asian trade.

“And Asia will be the driving market for air cargo in the long run,” he told reporters after the WACO Conference and EGM 2009 here last week.

Wibo Aris (right) giving a token of appreciation to Datuk Seri Ong Tee Keat at the WACO meeting.

Transport Minister Datuk Seri Ong Tee Keat said intra-Asia airfreight and cargo exported from Asia to other parts of the world already accounted for 45% of total international airfreight volume.

“The ongoing liberalisation and globalisation efforts in the aviation sector have radically transformed the region, opening up new economies, increasing international consumer demand and fuelling the growth for the air cargo industry.

“The Malaysian Government, too, is playing an active role in all multilateral, regional and bilateral forums to further enhance the flexibility and capacity of the air transport industry.

“With the world economic crisis coming to an end, air cargo growth is again expected to resume an average annual growth rate of 6%,” he said in his opening speech at the event.

He added that the air cargo industry had seen volumes drop between 25% to 35% since the economic recession started late last year, but noted that WACO members had not been too badly affected by the crisis.

“None of our members have reported losses during the crisis where they only experienced a drop in revenues and profits,” he said.

WACO is among the top five airfreight organisations in the world.

Malaysia’s Multi-Trans Bhd, founded in 1980 and headquartered in Port Klang, is a WACO member.

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