East-West airfreight prices hit by post-peak lull

East-West airfreight rates fell further in January following December’s retreat as pricing was hit by the post-peak season lull in trade.
Drewry’s East-West AirFreight Price Index fell 8.3 points in January to 99.6 points, bringing the index down to its lowest level since May 2014.
The index, compiled by the UK-based research house, has slumped over 21 points since November’s all-time high of 120.8 points, but stands just above the reading for January 2014.
Said Drewry: "The fall in air freight pricing was expected and is indicative of the seasonality in the trade. Drewry expects air freight pricing to have recovered temporarily through February, supported by tighter capacity conditions in the run up to Chinese New Year.
"However, thereafter we anticipate some softening in rates before capacity tightens with the onset of the Northern Hemisphere spring season in April."