DSV Q3 air volumes driven by Asia-Pacific, Americas exports

Danish forwarder DSV reported a 29% growth in airfreight volumes in today’s third-quarter 2021 earnings presentation, with airfreight volumes reaching 348,000 tonnes for the quarter due to higher export levels from the Asia-Pacific and Americas regions. [caption id="attachment_96998" align="alignright" width="450"] (Photo: DSV)[/caption] Revenues for the airfreight division, driven by higher freight rates and transport volumes, rose in Q3 to 18.3 million Danish Krone ($2.8 million), according to DSV’s earnings report released today. Gross profits per unit rose in Q3 to $1,341. The market was negatively impacted by COVID-19 in 2020, but activity levels have recovered during 2021 in most markets, especially on trans-Pacific trade lanes. DSV’s air division was also impacted by high demand, airport restrictions related to the pandemic, and limited belly capacity in passenger planes that will continue to impact the available capacity and are keeping rates high, according to DSV. “We are slightly firmer than what we can be in sea freight, but there are absolutely no signs that the capacity and supply side will change in the foreseeable future,” CEO Jens Bjorn Andersen said during today’s call. “It will only happen when we all return to long-haul flights. Consequently, when we will see long-haul belly capacity coming back in and there are no signs that this will change dramatically in the foreseeable future.” In DSV’s earnings report, the company estimates that the return of long-haul belly capacity will only happen gradually during 2022 through 2024.

DSV Q3 air volumes driven by Asia-Pacific, Americas exports

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