TI says ocean winning freight growth race

7/22/2013 9:31:43 AM

Logistics research and consultancy specialist Transport Intelligence says although the overall forwarding market grew by 3.1 per cent to US$125.85 billion in 2012, the growth was entirely attributed to the sea freight sector, which was up 11.5 per cent at US$63.23 billion. Meanwhile, the air freight forwarding market declined by 4.2 per cent to US$62.62 billion due to overcapacity, rising fuel prices and other operational costs. Asia Pacific accounted for the largest freight forwarding market with a 32 per cent share.       Aircargo Asia Pacific

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