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Allcargo Logistics Reports 11% YoY Growth in Air Cargo for November 2024

Updated on: Dec 27, 2024, 2:15 PM IST
Allcargo Logistics reported steady growth in November 2024 with LCL at 7,18,000 cubic metrics, FCL at 54,000 TEUs (+9% YoY), and air cargo at 2.8M kg (+11% YoY).
Allcargo Logistics Reports 11% YoY Growth in Air Cargo for November 2024
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Allcargo Logistics Limited has released its operational performance for November 2024, highlighting growth across its key segments: LCL, FCL, and Air operations.

LCL (Less-than-Container Load) Operations

LCL volumes continued to exhibit steady growth, marking a year-on-year (YoY) increase for the fourth consecutive month. The volume stood at 7,18,000 cubic meters in November 2024, slightly higher than the 7,14,000 cubic meters in November 2023 but lower than the 746,000 cubic meters recorded in October 2024.

Stable demand levels, aligning with operating capacity, supported consistent rates. The company stated that the healthy demand is expected to persist through the Lunar New Year. Regionally, LCL volumes grew month-on-month (MoM) in Latin America, the USA, Canada, China, and Hong Kong, while experiencing declines in Europe, the Middle East, India, and Asia Pacific (excluding China and Hong Kong).

FCL (Full Container Load) Operations

FCL volumes for November 2024 reached 54,000 TEUs, showcasing a 9% YoY growth. However, this represents a 6% decline compared to October 2024. Despite the MoM decline, FCL volumes demonstrated YoY growth across all regions, highlighting the robust demand for containerised cargo.

Air Operations

Air cargo volumes displayed significant growth, reaching 2,806,000 kilos in November 2024. This reflects an 11% YoY growth and an impressive 13% MoM increase. Regional growth was observed in the Asia Pacific, Middle East, India, and the USA, driven by strong demand for air freight services.

On December 27, 2024, Allcargo Logistics share price opened at ₹49.70, touching the day’s low at ₹48.86, as of 9:36 AM on the NSE.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Dec 27, 2024, 9:40 AM IST

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