TRANSPACIFIC air freight rates came under pressure in January as 2019 demand proved to be lacklustre, reported London's Air Cargo News.
Figures from Tac Index show that air freight rates on services from Hong Kong to North America declined by 0.8 per cent year on year to an average of $3.66 per kilogramme.
This is the second month in a row that rates have been down on a year ago following after 26 months of year-on-year increases. Prices were also down compared with December, although this is in line with usual market trends at the start of the year.
The decrease comes as demand on the transpacific trade appears to have dropped off due to concerns about an escalation of the US-China tariff war, but it also reflects a generally slow start to the year for air cargo.
Asia-Europe performed a little better with January rates increasing by 5.6 per cent year on year to US$2.83 per kilogramme, although this level of improvement was behind the double-digit percentage improvements being registered in 2018.
The forward curve from derivatives broker Freight Investor Services (FIS) for Hong Kong/China-Europe suggests that rates will pick up in March to around $3 per kilogramme before slipping slightly to $2.95 per kilogramme.
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Figures from Tac Index show that air freight rates on services from Hong Kong to North America declined by 0.8 per cent year on year to an average of $3.66 per kilogramme.
This is the second month in a row that rates have been down on a year ago following after 26 months of year-on-year increases. Prices were also down compared with December, although this is in line with usual market trends at the start of the year.
The decrease comes as demand on the transpacific trade appears to have dropped off due to concerns about an escalation of the US-China tariff war, but it also reflects a generally slow start to the year for air cargo.
Asia-Europe performed a little better with January rates increasing by 5.6 per cent year on year to US$2.83 per kilogramme, although this level of improvement was behind the double-digit percentage improvements being registered in 2018.
The forward curve from derivatives broker Freight Investor Services (FIS) for Hong Kong/China-Europe suggests that rates will pick up in March to around $3 per kilogramme before slipping slightly to $2.95 per kilogramme.
WORLD SHIPPING