Why Increasing Air Freight Demand Might Help FedEx and UPS
September 21 2022 - 01:47AM
TipRanks
Demand for container shipping is a sinking ship. Major ocean ports
across the globe are logjammed, and ships are anchored for weeks,
unable to move. The next best thing after ocean shipping? Air
freight. With the demand for air freight likely to get a boost from
the dwindling demand for ocean container shipping, logistics
players with established air freight fleets like United Parcel
(NYSE:UPS) and FedEx (NYSE:FDX) are likely to get a lift. When the
world was mostly stuck at home through 2020 and 2021, online
shopping activity grew manifold. This put pressure on logistics
companies which, at that point, mostly preferred ocean shipping
rather than air mail.
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United Parcel Service (NYSE:UPS)
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