Latest news with #trans-Pacific
Tatler Asia
3 days ago
- Business
- Tatler Asia
Delta to resume non-stop service between LAX and Hong Kong in 2026
Delta is bringing back nonstop LAX–Hong Kong flights in 2026, re-entering a highly competitive trans-Pacific route After an eight-year hiatus, Delta Air Lines is gearing up to resume non-stop flights to Hong Kong, marking a major expansion of its Pacific strategy. Beginning June 2026, Delta will operate daily flights between Los Angeles International Airport (LAX) and Hong Kong International Airport (HKG) aboard its flagship Airbus A350‑900 aircraft. Read more: Airline rules for power banks—what you need to know Delta last offered direct service to Hong Kong in 2018 from its Seattle hub—a route it discontinued amid challenging market dynamics. It also previously flew from Detroit to Hong Kong until 2012 and briefly between Tokyo-Narita and Hong Kong until 2016. The carrier has clarified that this new run will originate from LAX, not Seattle. Delta's decision comes as trans-Pacific travel continues to rebound. According to the US International Trade Administration, international passenger traffic between the US and Asia reached 2.61 million in December 2024—an 11.7 per cent year-on-year increase, though still about 22 per cent below pre-pandemic levels in 2019. Industry-wide, Asia-Pacific carriers saw the strongest global recovery in 2024. Data from the International Air Transport Association (IATA) shows international traffic by Asia-Pacific airlines rose 26 per cent year-on-year—leading all regions—but remained about 9 per cent shy of 2019 volumes. See also: 7 ways to minimise your carbon footprint for sustainable travel that doesn't feel like a compromise Hong Kong International Airport (HKIA) also continues its recovery. In 2024, it handled approximately 53 million passengers, up 34 per cent from 2023 but still trailing its 2019 peak of 71.5 million. It ranked as the ninth-busiest airport globally for international traffic last year, underscoring its role as a major Asian hub regaining its footing after extended pandemic-related closures. With demand steadily rising and airlines reintroducing capacity, analysts expect US–Asia air travel to return to near pre-Covid levels by 2026—just in time for Delta's relaunch.
The Mainichi
3 days ago
- Business
- The Mainichi
EU leader aims to elevate ties with Japan to 'new level' at summit
TOKYO (Kyodo) -- European Council President Antonio Costa said Tuesday the European Union aims to "upgrade" its relationship with Japan to "a new level" through an upcoming summit in Tokyo, focusing on trade and security. Costa said in an interview with Kyodo News that the EU and Japan will "continue to work together, standing up for the international rules-based order and free and fair trade," amid concerns over high U.S. tariffs under President Donald Trump. Costa, who assumed his post in December, and European Commission President Ursula von der Leyen are set to hold talks with Japanese Prime Minister Shigeru Ishiba in Tokyo on Wednesday after visiting the World Exposition in Osaka in western Japan, where the interview was held. At the meeting, the leaders are expected to announce the creation of a "Japan-EU Competitiveness Alliance" to bolster their industries by advancing trade and economic security cooperation, according to diplomatic sources. Costa said that the new partnership will be "the most important deliverable" from the summit, and that the EU and Japan must work not only to tackle their common challenges but also pursue "the profit of our synergy, of our cooperation." "Japan is our closest partner in the Pacific," Costa said, adding that he will discuss with Ishiba the possibility of the 27-member bloc's cooperation regarding a vast trans-Pacific free trade agreement that involves Japan, Britain and 10 other nations. On the defense front, Costa emphasized that the EU will ramp up collaboration with Japan to make both Europe and the Asian nation "better equipped." He added that security in the Pacific and Europe is "interlinked," referring to Russia's invasion of Ukraine. North Korean troops have been sent to support Moscow's war efforts. After staying in Japan, Costa and von der Leyen are scheduled to hold talks with Chinese President Xi Jinping in Beijing on Thursday.
Yahoo
14-07-2025
- Business
- Yahoo
China-US container trade trending down as peak season nears
Indicators of China-U.S. container traffic are trending down even as the peak shipping season draws closer. On Monday the Port of Los Angeles Port Optimizer showed 128,720 twenty foot equivalent units (TEUs) import volume due in July 13-19, up 8.68% from the past week and 13.23% ahead of the year-ago week. That's the good news. More troubling, the port is showing 120,072 TEUs arriving the week of July 20-26, down 6.72% w/w and 11.47% y/y. Worse yet, projected import volume for July 27-August 2 plunges to 78,025 TEUs, a decrease of 35.02% w//w and 22.10% from a year ago. Similarly, the SONAR Inbound Ocean TEUs Volume Index, China to the United States, fell to 929.53 as of Monday. The Ocean TEU Index represents how much containerized volume is being tendered to ocean carriers (booked) with ocean carriers and/or 3rd party logistics companies (freight forwarders/ NVOCCs). The decline comes as global container volumes reached a record 16.34 million TEUs in May, breaking the previous record of 16.31 million TEUs set in March of this year, according to Container Trade Statistics. Total exports from the Far East region grew 3% y/y in May, most in the world, on record traffic to Europe. Notably, North America and Central and South America saw export volumes tumble from April, off 9.2% and 3.5%, respectively. Imports in April to May were stronger as North America saw a 2% increase year-to-date, even as May volumes fell 9%. Europe containers were up 10% in May y/y. Find more articles by Stuart Chirls Q2 volumes up 4.4% for OOCL parent Longshore unions to unite for 'anti-automation' protest Tariff pauses 'unlikely' to halt tumbling trans-Pacific rates: Freightos June rebound as West Coast containers best East, Gulf ports The post China-US container trade trending down as peak season nears appeared first on FreightWaves.
Yahoo
10-07-2025
- Business
- Yahoo
Tariff pauses ‘unlikely' to halt tumbling trans-Pacific rates: Freightos
Global shipping continues to experience significant fluctuations, influenced largely by the U.S. tariff strategy involving numerous trading partners, with the situation surrounding China remaining a major focal point. Recent developments in U.S. tariff policies have drawn considerable attention to ocean freight rates, marking a momentous shift in shipping dynamics, said analyst and SONAR data contributor Freightos in an update. The Freightos Baltic Index saw Asia-U.S. West Coast rates fall 8% to $3,124 per forty foot equivalent (FEU) for the week ending July 4, while Asia-U.S. East Coast prices dropped 16% to $5,159 per FEU. SONAR's Inbound Ocean TEUs Volume Index ( as of July 8 surged ahead of 2022-2024 levels. President Donald Trump recently signed an executive order extending the pause on reciprocal tariff rollouts for several U.S. trading partners until August 1. This extension offers a brief respite from imminent tariff hikes and allows additional time for negotiations that aim to reduce or completely avoid these increases. Notably, the existing tariffs with China will remain unchanged until their current expiration on August 11. This pause has subtly impacted the overall volume and direction of international shipping activities. Significant frontloading of goods from various countries was observed before the anticipated tariff hikes, especially from China due to previous tariff levels that went as high as an embargo-like 145%. This frontloading led to an overall slump in U.S. ocean imports during April and May, with trans-Pacific container rates maintaining stability, and at times, decreasing due to strategic blanked sailings by carriers. However, any potential spike in shipping activities in July is expected to be muted because of the short timeframe until the pause's expiration. Trans-Pacific spot rates from Asia to the U.S. West Coast saw a marked reduction, falling 8% during the week ending July 4 to $3,124 per forty foot equivalent unit (FEU), and further dropping to $2,390 per FEU. This represents a decline of 60% from just three weeks prior when rates were as high as $6,000 per FEU. Similarly, East Coast rates have fallen by 30% since mid-June to $4,900 per FEU, though they remain above their March-to-May levels, reflecting limited capacity additions on this route compared to the West Coast's quicker transit options. In terms of capacity adjustments, carriers are making strategic decisions to combat decreasing demand and falling rates. Planned general rate increases (GRIs) have been abandoned or reduced, with many carriers opting to remove capacity in attempts to stabilize market conditions and halt the decline. This strategic reduction in vessel availability is intended to align capacity with dropping demand and prevent further rate deterioration. Rates on Europe trades have been influenced by relatively steady peak season demand coupled with ongoing congestion at key container hubs. Despite an overall reasonable demand, rates remain below last year's peak, driven down by continual fleet growth and substantial scheduled capacity on the Asia-North Europe lane. Carriers are reportedly planning to increase blankings, reducing scheduled capacity even amid typical peak season increases, to stabilize rates, which have risen 14% to $3,384 per FEU last week but remain significantly below the previous year's highs. Find more articles by Stuart Chirls rebound as West Coast containers best East, Gulf ports Port Newark opens new electric drayage charging station Italy shipbuilder appoints new US chief Crowley adds new U.S. Northeast ocean service with Central America The post Tariff pauses 'unlikely' to halt tumbling trans-Pacific rates: Freightos appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Sun
04-07-2025
- Business
- The Sun
Air cargo shipments from Asia to US slump
SHANGHAI: Air cargo shipment volume from Asia has declined by double digits since the US cancelled a tax exemption for low-value packages from China early in May, trade groups and analysts said. Air cargo demand from Asia to North America declined 10.7% in May versus the same month a year earlier, showed data from the International Air Transport Asso-ciation (IATA), illustrating 'the dampening effect of shifting US trade policies,' IATA director-general Willie Walsh said in a report published on Monday. Shipments valued under US$800 (RM3,375) – often sent by air to US customers of low-cost e-commerce platforms such as Shein and PDD's Temu – fall under the so-called de minimis, or too-small-to-matter, tax exemption. Since May 2, shipments sent from China and Hong Kong have been taxed at a rate initially as high as 145% before settling to as low as 30% after a mid-May trade detente between the US and China. The pair continue to negotiate on trade, with the US relaxing export restrictions on software, ethane and aerospace to China this week, ahead of July 9 when the US plans to re-impose a range of steep tariffs targeting multiple countries. The volume of low-value e-commerce shipments from China to the US in May saw a particularly steep decline, industry experts said. Such shipments fell 43% in May from the previous month, showed estimates from air cargo consultancy Aevean, but rose to other main export markets including Europe and South-east Asia. It is not clear whether such dramatic declines will continue, said Aevean managing director Marco Bloemen, given businesses had anticipated the de minimis halt and because the tariff rate was lowered mid-month. 'Will those e-commerce players bounce back to the US now they're paying 30% duties instead of zero duties?' Bloemen said. Firms turning to other markets due to US trade policy uncertainty is also likely weighing on shipment volume, he said. 'That's a trend that we're expecting to continue – there's more Europe-destined e-commerce ex-pected in the month of June, also to markets like Latin America.' Air cargo consultancy Rotate said e-commerce platforms were focusing on other markets to replace lost US demand, with significant export growth to the European Union and Asia-Pacific region. Shein and PDD did not immediately respond to Reuters' requests for comment. Low-value e-commerce out of Asia has been taking an increasing proportion of global air freight and boosting airlines' cargo businesses. Last year such shipments – at 1.2 million metric tons – made up 55% of goods shipped from China to the US by air compared to just 5% in 2018, Aevean data showed. As Asia-to-US demand fell in May, airlines pulled freighter aircraft off trans-Pacific routes and placed them elsewhere, industry experts said. Some of that demand has now returned as firms take advantage of tariff pauses between the US and a number of countries, but flight fre-quencies are reduced, they said. 'Some of the larger players that were chartering three flights a week have cut back to two,' said e-commerce consultancy Cirrus Global Advisors. Direct freighter capacity between China and the US in June was 11% lower compared to March, wiping out growth in capacity over the past year on those lanes, Rotate data showed. Asia-focused freight forwarder Dimerco Express reported a significant decline in its e-commerce bookings, estimating a 50% drop in both May and June. This sharp decrease in demand has led to on-going cancellations of scheduled freighter flights, as the firm faces logistical challenges and adjusts its operations in response to the weaker market conditions, according to their latest report. The de minimis rule, which dates to 1938, had been a target of criticism from American lawmakers as a loophole that lets Chinese products skirt US tariffs and allows illegal drugs and precursors to make opioid fentanyl to enter the US unscreened. – Reuters
