As IATA forecasts strong growth in the Asian air freight sector for the next three years, Toll Global Forwarding has been investing in building its regional and global air freight services and network.
Toll Global Forwarding, part of Toll Group, the Asian provider of logistics services, is targeting significant growth in the global airfreight sector in 2011. This follows investment in strategic acquisitions and the recent announcement of senior management appointments.
Toll Global Forwarding has traditionally been weighted towards ocean freight but during the last 12 months has moved to strengthen its air freight division. This will give customers more choice and further develop Toll Global Forwarding's product offering.
IATA is forecasting that the five fastest growing international air freight markets between 2009 and 2014 will be Hong Kong (12.3 per cent), China (11.7 per cent), Vietnam (11.4 per cent) and Taiwan. Asia Pacific is expected to see the highest growth worldwide for international air freight at 9.8 per cent during the same period according to IATA.
"Toll Global Forwarding has its headquarters in Hong Kong and our roots are in Asia Pacific. We see the forecast growth in the air freight sector in Asia as an exciting opportunity for Toll to expand its presence. Globally we have made several key acquisitions in the US, Europe and Middle East which will strengthen our air freight network," said Hugh Cushing, CEO, Toll Global Forwarding.
"We have made some key international appointments to our senior management team on the air freight side which will enable us to build our business globally," he added.
Toll offers air freight services to its ocean customers comprising many global brand name companies.
Toll recently acquired SAT Albatros a Dubai-based market leading provider of Sea-Air Services and sees potential in consolidating the company's position in the Middle East and on the Asia to Europe trade lane. The Sea-Air service provides Toll's customers in Asia and Europe to match speed to market with a cost effective service.