THE conflict in the Red Sea has driven up air cargo spot rates this year, while ocean freight container schedules remain unreliable, reports Bopal's Fibre2Fashion.
According to Xeneta, average ocean container spot rates from Northeast Asia to the US West Coast in the first week of May were more than double compared to the same period last year.
The strong US economy could further boost the air cargo market.
In March, the reliability of ocean freight container schedules from Asia to the US west coast was only 49 per cent, and even worse at 38 per cent to the US east coast.
Given the minimal expected improvements in ocean freight service reliability and continued high rates, some shippers are increasingly turning to air freight to safeguard their supply chains, noted Xeneta, a Norway-based platform specialising in ocean and air freight rate benchmarking and market analytics.
SeaNews Turkey
According to Xeneta, average ocean container spot rates from Northeast Asia to the US West Coast in the first week of May were more than double compared to the same period last year.
The strong US economy could further boost the air cargo market.
In March, the reliability of ocean freight container schedules from Asia to the US west coast was only 49 per cent, and even worse at 38 per cent to the US east coast.
Given the minimal expected improvements in ocean freight service reliability and continued high rates, some shippers are increasingly turning to air freight to safeguard their supply chains, noted Xeneta, a Norway-based platform specialising in ocean and air freight rate benchmarking and market analytics.
SeaNews Turkey
