Rates on the up in August but growth narrows

Airfreight rates continued to track ahead of last year’s levels in August, although the difference compared with a year ago has continued to narrow as the year has progressed.
The latest figures from analyst Drewry’s Sea and Air Shipper Insight report show that all-in rates on major east-west services averaged at $2.57 per kg in August, a 3.6% increase on a year ago.
While prices have improved on last year, the size of the gap has narrowed as the year has progressed.
For instance, in February prices were up 14.6% year on year, in March there was a 7.1% difference, and in April there was a 10.8% difference. August rates are also up on July’s level of $2.55 per kg.
Drewry said it expects rates to increase in September, although this should not come as too much of a shock as prices generally creep up as the industry heads into its fourth quarter peak season.

Share this story

Related Topics

Latest airfreight rates news

Rates on major trades down but still more than 50% above pre-Covid levels

By Damian Brett

Airfreight rates continued their downward spiral in January but are still above pre-Covid levels. The latest statistics from the Baltic…

Read More

Share this story

CLIVE points to continued uncertainty in the air cargo market

By Mike Bryant

Industry analyst CLIVE Data Services has said that global air cargo demand continued to fall in January, down 8% year…

Read More

Share this story

DHL: Demand down but hope as inflation expected to ease

By Rebecca Jeffrey

DHL Global Forwarding’s December 2022 ‘Airfreight State of the Industry’ report painted a fraught operating landscape but the outlook isn’t…

Read More

Share this story