United Parcel Service (NYSE:UPS) and logistics firm Expeditors International (Nasdaq:EXPD) have indicated that strong air freight growth last fall continued through at least January.
A recent surge in demand for rail, truck and air transportation suggests the global freight recession may have ended, industry analysts said Friday.
After bottoming out in the second quarter of 2009, demand has materially strengthened over the last four weeks, says a report from UBS analysts Rick Paterson and Fadi Chamoun.
The International Air Transportation Association recently revised its outlook, saying cargo volumes should increase by 12 per cent in 2010. That's up from seven per cent in earlier forecasts.
The Port of Long Beach says its container traffic grew by 30 per cent in February from last year.
The American Trucking Association said its seasonally adjusted truck tonnage index was up 1.9 per cent in January.
Railways in Canada and the United States saw their non-coal volumes increase over the last week from a year ago.
Total carloads grew by 13 per cent to 739,292, the highest level since November 2008. They are also up 3.5 percentage points from the previous week.
Carloads were down 9.8 per cent from 2008 but things are at least moving in the right direction, added Walter Spracklin of RBC Capital Markets.
Canadian railways were ahead of their U.S. peers, with carloads up by 20.5 per cent compared to an 11.4 per cent increase south of the border, he said in a report.
Canadian carloads improved 9.5 percentage points from the previous week, while U.S. carloads were up 2.2 percentage points.
Canadian National Railway's (TSX:CNR) carloads grew the most, up 23.8 per cent over the week, compared to a group average increase of 13 per cent.
So far this year, its carloads are up 13.4 per cent.
At Canadian Pacific Railway (TSX:CP), carloads increased by 5.3 per cent during the week and five per cent for the year to date. Intermodal traffic grew by 19.2 per cent for the week but is down 0.9 per cent year to date.
Overall Canadian volumes were driven by an 86-plus per cent surge of gravel and metallic ores. Chemicals were up 34.3 per cent and automobiles 42.5 per cent.
Grains decreased by 5.7 per cent in the week. Pulp and paper products were down marginally but lumber was up 13.6 per cent.
Free Book "Make Real Money on the Internet" from world’s #1 internet wealth advocate Absolutely free!
Claim Your Free Copy!
A recent surge in demand for rail, truck and air transportation suggests the global freight recession may have ended, industry analysts said Friday.
After bottoming out in the second quarter of 2009, demand has materially strengthened over the last four weeks, says a report from UBS analysts Rick Paterson and Fadi Chamoun.
The International Air Transportation Association recently revised its outlook, saying cargo volumes should increase by 12 per cent in 2010. That's up from seven per cent in earlier forecasts.
The Port of Long Beach says its container traffic grew by 30 per cent in February from last year.
The American Trucking Association said its seasonally adjusted truck tonnage index was up 1.9 per cent in January.
Railways in Canada and the United States saw their non-coal volumes increase over the last week from a year ago.
Total carloads grew by 13 per cent to 739,292, the highest level since November 2008. They are also up 3.5 percentage points from the previous week.
Carloads were down 9.8 per cent from 2008 but things are at least moving in the right direction, added Walter Spracklin of RBC Capital Markets.
Canadian railways were ahead of their U.S. peers, with carloads up by 20.5 per cent compared to an 11.4 per cent increase south of the border, he said in a report.
Canadian carloads improved 9.5 percentage points from the previous week, while U.S. carloads were up 2.2 percentage points.
Canadian National Railway's (TSX:CNR) carloads grew the most, up 23.8 per cent over the week, compared to a group average increase of 13 per cent.
So far this year, its carloads are up 13.4 per cent.
At Canadian Pacific Railway (TSX:CP), carloads increased by 5.3 per cent during the week and five per cent for the year to date. Intermodal traffic grew by 19.2 per cent for the week but is down 0.9 per cent year to date.
Overall Canadian volumes were driven by an 86-plus per cent surge of gravel and metallic ores. Chemicals were up 34.3 per cent and automobiles 42.5 per cent.
Grains decreased by 5.7 per cent in the week. Pulp and paper products were down marginally but lumber was up 13.6 per cent.
Free Book "Make Real Money on the Internet" from world’s #1 internet wealth advocate Absolutely free!
Claim Your Free Copy!
Posts
No comments:
Post a Comment