Air cargo rates gain on US port congestion

Air freight rates continued to climb through November on the back of strong peak season demand and conversions from ocean freight as a result of US supply chain bottlenecks.
Drewry’s East-West Air Freight Price Index rose a further 5.3 points in November to reach an all-time peak of 120.8 points, exceeding the record high of 117.4 achieved in November 2013 by a comfortable margin of 3.4 points.
The UK-based consultancy expects air freight pricing to recede in the near term, as the peak season concludes and lower jet fuel costs start to feed into reduced fuel surcharges.
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