THE Xeneta Air freight rate from east Asia to US has been trending downwards for most of 2022, reports Mumbai's Stat Trade Times.
The spot air freight rate from East Asia to the US in early December hit a two-year low but remained 101 per cent above the same period in 2019, according to the latest update from Xeneta.
'The elevated air freight rate is caused by the slow reopening of the East Asian market. This has caused more affordable passenger belly capacity to remain below pre-pandemic levels,' said Xeneta.
'Air cargo demand has been growing above 2019 levels, and the US Census reports that by the end of October, accumulated air volumes have increased 16 per cent compared to 2019 (and +3 per cent in October only).'
It is worth noting, however, that the rest of the East Asian market contributed to most of this air cargo growth, which is up a considerable 39 per cent from the pre-Covid level, the update added.
'Outbound mainland China only registered an accumulated volume growth of six per cent for the same period as its volume growth has fallen since July.'
Air freight rate from East Asia to the US has been trending downwards for most of 2022. 'In the week ending on December 11, the spot air freight rate on this corridor was US$5.68 per kg, down 46 per cent from the peak ($10.52 per kg) in the week ending on December 26 last year.
The US Census reports that air cargo volume from East Asia to the US has been trending downward since Q2 this year with volume in the first 10 months down nine per cent year on year compared to the air cargo peak year of 2021.'
SeaNews Turkey
The spot air freight rate from East Asia to the US in early December hit a two-year low but remained 101 per cent above the same period in 2019, according to the latest update from Xeneta.
'The elevated air freight rate is caused by the slow reopening of the East Asian market. This has caused more affordable passenger belly capacity to remain below pre-pandemic levels,' said Xeneta.
'Air cargo demand has been growing above 2019 levels, and the US Census reports that by the end of October, accumulated air volumes have increased 16 per cent compared to 2019 (and +3 per cent in October only).'
It is worth noting, however, that the rest of the East Asian market contributed to most of this air cargo growth, which is up a considerable 39 per cent from the pre-Covid level, the update added.
'Outbound mainland China only registered an accumulated volume growth of six per cent for the same period as its volume growth has fallen since July.'
Air freight rate from East Asia to the US has been trending downwards for most of 2022. 'In the week ending on December 11, the spot air freight rate on this corridor was US$5.68 per kg, down 46 per cent from the peak ($10.52 per kg) in the week ending on December 26 last year.
The US Census reports that air cargo volume from East Asia to the US has been trending downward since Q2 this year with volume in the first 10 months down nine per cent year on year compared to the air cargo peak year of 2021.'
SeaNews Turkey
