East-West air freight rates fall in May

DREWRYS weighted average of air freight rates across 21 East-West trades, declined 4.5 points in May to 99.3 points, ending two consecutive months of small pricing gains.
Despite the monthly decline, rates remain higher than they were 12 months ago, said the London-based freight consultancy.

The Drewry Sea & Air Shipper Insight expects overall pricing to weaken further in the coming months: “Ongoing freighter capacity rationalisations have helped to stabilise the market, but rising cargo capacity from passenger aircraft remains a challenge for the airlines and their forwarder partners, and will serve to keep freight rates in check.”