The deepening of the cargo crisis could force smaller freight firms out of business, operators warned yesterday.
Forwarding agents said freight costs had been inflated and only those who could afford high charges could obtain the limited flight spaces.
The Hong Kong Association of Freight Forwarding Agents estimated that about 20 to 30 per cent of agents would suffer losses.
Association chairman Anthony Lau Siu-wing said: 'The small and medium-sized forwarding agents will be the hardest hit.
'The agents' loss of business could lead to a chain impact on the supporting industries like truck operators and frame builders.' Of the 600 forwarding agents in Hong Kong, about 500 are of small and medium size.
One agent, Steve Ho, said his company had lost 40 per cent of business.
