DSV’s air freight volumes faced a strong demand from Asia in Q1 of the year, although revenue and profit fell as rates dropped in the market. The forwarder’s airfreight volumes increased 2.3% in the first quarter of 2024 to 335,213 tonnes. This is compared to 327,712 tonnes in the same period last year. .
“The air freight market is impacted by continued high growth in e-commerce volumes from China, driving both market volumes and rates up.” DSV noted that the airfreight market is dealing with overcapacity, but reflected that it expects that retirement of old aircraft will offset some of this excess capacity.