Revenue at T3EX surges as shipping rates remain highBy Kao Shih-ching / Staff reporterFreight forwarder T3EX Global Holdings Corp (台驊國際) on Friday reported revenue for last year of NT$3.45 billion (US$124.6 million), up 90 percent from a year earlier, and cumulative revenue of NT$36 billion for the year, up 137 percent from a year earlier, on the back of high shipping rates. Port congestion and labor shortages, as well as COVID-19 lockdowns in Southeast Asian countries, continued to push sea freight rates upward, contributing to revenue momentum, the forwarder said. There is still a discrepancy between supply and demand in the sea shipping market,” T3EX said in a statement. The forwarder expects air cargo rates to remain high this year, as the disruption in the sea freight market could prompt more clients to utilize air services, it said. Revenue from its sea freight forwarding operation advanced 137 percent year-on-year to NT$16.2 billion, accounting for 41.8 percent of all revenue, it said.

Source: Taipei Times January 09, 2022 17:29 UTC