Air freight rates out of Asia soar as capacity tightens – 'congestion equals dollars'
Air freight rates are soaring out of Asia to Europe and the US west coast, ...
IATA has revealed its air cargo data for November, showing that – as predicted – it was a strong peak season. Anecdotally, forwarders have told The Loadstar that the peak was fuelled by Asian carriers in particular taking out capacity, the consequences of Hanjin’s bankruptcy and a general rise in volumes. IATA’s figures, however ,show growth in available freight tonne km of 4.4% globally, and 4% in Asia.
Perhaps more interesting than what happened last year, is what will happen next month. Forwarders and airlines are predicting strong rates until 27 January, in advance of the Chinese new year holiday. And then – who knows? But a lull is not unlikely.