Rates on the up in August but growth narrows
08 / 10 / 2018
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.