NYK Line bucks trend, exits cargo airline business

Another of more than a few to come I suspect and the BDI down 48% for the year might indicate that the great freight rebound, while not exactly moribund, is certainly constipated.

https://tradingeconomics.com/commodity/baltic

Sounds like a win-win to me.

NYK Line said it is exiting the air cargo business because it has become too expensive to run a profitable airline and grow to meet new demand. NCA owns and controls 15 Boeing 747 jumbo freighters: eight 747-8s it flies on its own, plus five older 747-400s operated on its behalf by U.S.-based Atlas Air (NASDAQ: AAWW) and two 747-400s crewed by ASL Airlines Belgium.