TRANSPORTCEO - 08/01/2019
East-West air freight rates highest of last 4 peak seasons.
Air freight rates on major East-West routes hit a 4-year high in November, according to the results of Drewry’s East-West Air Freight Rate Index.
The index jumped by 5% in November, to US$3.18 per kg, and was 2% higher than during last year’s already strong peak season.
“The fear of US tariffs pushed short-term demand and air freight rates in the transpacific this peak season, but rates have also been remarkably strong in the transatlantic and Europe-to-Asia routes this year,” said Philip Damas, director of Drewry Supply Chain Advisors, the logistics consultancy arm of Drewry.
Drewry East-West Air Freight Rate Index
More detailed analysis in the Sea & Air Shipper Insight rate database shows that fuel surcharges have started to fall on some routes, helping to mitigate the increase in rates.
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