Shanghai air cargo rate fall shows signs of slowing on TAC Index
AIR cargo rates declines out of Shanghai have shown signs of stabilising over the last week, reports London's Air Cargo News
AIR cargo rates declines out of Shanghai have shown signs of stabilising over the last week, reports London's Air Cargo News.
The latest figures from TAC Index show that air freight rates from Shanghai to North America last week fell 4.3 per cent compared with the previous week to US$4.50 per kilogramme.
From Shanghai to Europe prices slipped by 2.4 3 per cent week on week to $3.21 per kilogramme.
Prices from the Chinese hub have been declining rapidly over recent weeks after they surged in March, April in May due to urgent demand for personal protective equipment and the loss of bellyhold capacity.
But the decline has slowed over the last couple of weeks and prices are still above the figure for the same week a year ago, when carriers were charging an average of $2.42 per kilogramme to Europe and $3.38 per kg to North America.
Meanwhile, prices from Hong Kong to North America last week declined by 18.5 per cent to $4.55 per kilogramme, while to Europe they were down 15.8 per cent to $3.25 per kilogramme.