{"id":72322,"date":"2023-07-26T00:00:00","date_gmt":"2023-07-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/07\/26\/us-airlines-cargo-revenues-plummet-as-travel-industry-rebounds-lng-newbuilds-are-getting-the-lions-share-of-investments-from-shipowners\/"},"modified":"2023-07-26T00:00:00","modified_gmt":"2023-07-26T00:00:00","slug":"us-airlines-cargo-revenues-plummet-as-travel-industry-rebounds-lng-newbuilds-are-getting-the-lions-share-of-investments-from-shipowners","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/07\/26\/us-airlines-cargo-revenues-plummet-as-travel-industry-rebounds-lng-newbuilds-are-getting-the-lions-share-of-investments-from-shipowners\/","title":{"rendered":"US airlines\u2019 cargo revenues plummet as travel industry rebounds + LNG newbuilds are getting the lion\u2019s share of investments from shipowners"},"content":{"rendered":"

Air cargo revenues are falling, but it\u2019s not all bad: <\/span>American airlines are seeing their <\/span>cargo revenues fall, which is actually a positive sign for the recovery of the travel industry, <\/span>CNBC<\/a><\/span>reports. Major US carriers, including Delta Airlines, United Airlines, and American Airlines, have reported around 40% y-o-y drops in their 2Q 2022 cargo revenues. The drop indicates a shift from a pandemic trend that saw airlines rely on transporting goods to compensate for revenue loss, CNBC explains, adding that this points to a sign of growth and recovery in the travel sector. <\/span><\/p>\n

Shipowners have spent some USD 47 bn for newbuild LNG carriers in the past 18 <\/span>months<\/span>, surpassing the amount spent on new containerships, Seatrade Maritime <\/span>reports<\/a><\/span>. Spending on new LNG carriers since the start of 2022 is now the largest for any shipbuilding sector and represents 27% of newbuild investments. LNG newbuilds ordered this year amount to some 30 carriers worth USD 7.7 bn, according to Seatrade Maritime. <\/span><\/p>\n

Demand for replacements, upped cargo volumes, energy security, and infrastructure requirements are driving the spike in new orders<\/span>, according to Clarkson Research analysis cited by Seatrade Maritime. Despite hikes to shipbuilding prices, shipowners are scrambling to secure available slots between now and 2027. The trend is likely to continue as surging demand for LNG in Asia and the role of the low emission fuel in the clean energy transition boost demand. <\/span><\/p>\n

ALSO WORTH KNOWING-<\/span><\/p>\n