AIR CARGO rates continued to rise as firms looked to move goods before the US tariffs strike - for real, reports London's air Cargo News.
Baltic Air Freight Index figures calculated by data house TAC show that overall prices increased 2.4 per cent in the week to March 31 and were up by 5.1 per cent compared with a year ago.
Overall rates have been on the rise since early March - it is the third week in a row that the overall index has risen.
Rates on services from Hong Kong increased 2.6 per cent week on week and are up 1.4 per cent year on year, while from Shanghai prices are up 0.6 per cent week on week and 3.9 per cent on a year ago.
Rates out of Frankfurt increased 8.3 per cent week on week and are up 28.2 per cent year on year, while from London there was a 15.5 per cent increase on a week earlier and are up 2.6 per cent against last year.
Said Chris Clowes from consultancy Scala: 'While the aim may be to boost domestic manufacturing in the US, the reality is that automotive supply chains today are highly complex, tightly interwoven and global.
'This kind of disruption puts enormous pressure on global supply chains. Businesses will be forced to reassess sourcing strategies, redirect shipments, and renegotiate contracts - all at short notice,' he said.
SeaNews Turkey
Baltic Air Freight Index figures calculated by data house TAC show that overall prices increased 2.4 per cent in the week to March 31 and were up by 5.1 per cent compared with a year ago.
Overall rates have been on the rise since early March - it is the third week in a row that the overall index has risen.
Rates on services from Hong Kong increased 2.6 per cent week on week and are up 1.4 per cent year on year, while from Shanghai prices are up 0.6 per cent week on week and 3.9 per cent on a year ago.
Rates out of Frankfurt increased 8.3 per cent week on week and are up 28.2 per cent year on year, while from London there was a 15.5 per cent increase on a week earlier and are up 2.6 per cent against last year.
Said Chris Clowes from consultancy Scala: 'While the aim may be to boost domestic manufacturing in the US, the reality is that automotive supply chains today are highly complex, tightly interwoven and global.
'This kind of disruption puts enormous pressure on global supply chains. Businesses will be forced to reassess sourcing strategies, redirect shipments, and renegotiate contracts - all at short notice,' he said.
SeaNews Turkey
