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  Volume: XXIII, Issue No. 17 April 16-30, 2014  
     
 
   
 
   
  CARGO & SHIPPING
  Changi increases landing fee rebates
 
 
  Untitled Document
_A Monitor Report
Singapore : Changi Airport Group (CAG) is increasing its support for the air cargo sector in the face of continuing headwinds for the air freight business.
For the first six months of 2013, rebates for landing fees at Changi Airport will be raised to 50 per cent for all scheduled freighter flights. This additional initiative, amounting to US$3.69 million, brings CAG's total support for the air cargo sector to close to US$16.4 million since the start of FY2012-131.
In March 2012, CAG announced a US$12.3 million cargo support package for FY2012-13 consisting of a 20 per cent landing fee rebate for freighter flights, partnership funding support for new cargo development initiatives, as well as up to 20 per cent rental rebates for cargo tenants leasing CAG cargo facilities at the Changi Airfreight Centre2.
While passenger traffic at Changi has been growing steadily over the past year, the air cargo sector has been facing downward pressure due to falling yields of air freight carriers, as well as persistently high jet fuel prices.
The International Air Transport Association has reported that the global cargo tonnage is likely to contract two per cent in 2013. In Singapore, the manufacturing sector has declined for four consecutive months, and the country's growth forecast for 2012 has been cut to around 1.5 per cent on the back of a sharp contraction in electronics manufacturing for Q3 2012.
Correspondingly, total cargo throughput at Changi Airport has declined 2.7 per cent year-on-year to 1.65 million tonnes for the first 11 months of 2012. For the month of November 2012, Changi Airport handled 152,000 tonnes of cargo, a decrease of 5.1 per cent compared to November 2011.
However, despite the overall decline in cargo volumes at Changi Airport, some segments such as pharmaceuticals, live animals and perishables have shown moderate improvements, registering increases of more than five per cent year-to-date.
Lee Seow Hiang, CAG's Chief Executive Officer, said, "Our cargo industry partners have expressed continued concern about the outlook for the sector given the ongoing uncertainty about the health of the world's major economies. Hence, CAG has decided to provide this additional support to moderate operating costs for cargo airlines at Changi Airport. This is our commitment to building strong partnerships, in good times as well as bad."
   
 
 
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