Airfreight prices climb in June but growth rate narrows

25 / 07 / 2017

  • Drewry - Average global airfreight rates for June

    Drewry - Average global airfreight rates for June

Global average airfreight rates continued to track ahead of last year’s levels in June, but the rate of improvement has slowed compared with a month ago.

The latest Sea and Air Shipper Insight report from Drewry shows that average all-in buy rates across 21 major east-west trade lanes increased by 1.1% year on year to reach $2.81 per kg.

While this is an improvement on a year ago, it lags behind the growth rate of 7.9% recorded across the first six months of the year.

June last year saw the airfreight market start to show signs of a pick-up, with IATA statistics showing a 4.3% improvement in demand.

Rates in June were also up compared with a month ago, after a small decline in May, linked with seasonality.

“Drewry’s East-West Airfreight Price Index is up by 1.2% month-on-month in June, following a slight dip in May.

“The index is now about 1% above the same month last year, and a surge in the Freight Tonne Kilometres outlines a strong market. Drewry expects the airfreight rates to further grow in July,” the consultant said.

Airfreight rates tend to increase as the summer progresses and the industry heads into the peak season.

While overall rates may have seen growth narrow in June, figures from Tac Index suggest trade lanes from Asia recorded larger improvements.

Read more air cargo data and statistics