Airfreight rates out of Asia near early summer levels
AIRFREIGHT rates between Shanghai and North America last week reached their highest level since early June, report London's Air Cargo News
AIRFREIGHT rates between Shanghai and North America last week reached their highest level since early June, report London's Air Cargo News.
Average prices on services from Shanghai to North America increased by 26.2 per cent from the previous week to reach US$6.07 per kg.
Prices from Hong Kong to Europe have increased slowly since the end of August and are currently $3.82 per kg, the highest since early July.
The rates on both routes are at a higher level than last year because of a stronger load factor. An increase in rates at this time isn't too surprising since the industry is headed into peak season.
Still, with different market dynamics this year, rate progression and capacity availability has been challenging to predict. However, figures show that capacity and demand appear to be increasing at roughly the same level.
Worldwide demand was up by 4 per cent compared to the week prior, while capacity increased by three per cent.
Meanwhile, the chargeable weight of cargo carried from the Asia Pacific was up 11 per cent and capacity up 10 per cent.
Shanghai to Europe rates have also been increasing recently but at a lower rate. Last week prices were up 0.5 per cent to $4.22 per kg which is their highest level since the middle of June.
Hong Kong to North America average rates have been the same level since the beginning of August but increased last week 4.5 per cent to $5.55 per kg.
'Global air cargo capacity is at its lowest per cent decline since mid-March,' said Seabury Consulting by Accenture data.