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FIS Air Freight rates posts unexpected Chinese New Year uptick

AIR FREIGHT from Shanghai to Europe has risen 23 cents, pushing up the China-Europe lane 13 cents, helped by rising Hong Kong rates, up four cents, according to Fidelity National Information Services (FIS), a Jacksonville-based provider of financial services technology

31 January 2020 - 19:00

AIR FREIGHT from Shanghai to Europe has risen 23 cents, pushing up the China-Europe lane 13 cents, helped by rising Hong Kong rates, up four cents, according to Fidelity National Information Services (FIS), a Jacksonville-based provider of financial services technology.

Shanghai to US shows strength, up nine cents, counter-balanced by Hong Kong to US significantly down 14 cents, said the FIS note, reports the American Journal of Transportation.



'China to US results with a weaker price, down three cents. The Hong Kong vs Shanghai to US spread diverges considerably at -0.23 cents/ -13.41,' FIS said.



China-to-Europe forward curve prices were more optimistic as the two major trade lanes began to diverge, with front month prices up one cent, and the Q1 20 up five cents. Q2 is dragged up two cents. China to US continues its decline.



Said FIS: 'Those presuming that the air freight market would follow classic seasonal declines in price have been challenged this week as Shanghai lifts up the China to Europe route. There are doubts as to how much momentum this price increase will have, though you might assign it to Chinese New Year, and expect a bigger reflection of market buoyancy from China to US.'


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