Airfreight rates continue to climb in May

Airfreight rates continued to track ahead of last year’s levels in May, although there was a decline compared with April levels.
The latest figures from consultant Drewry’s Sea & Air Shipper Insight report shows that the average all-in airfreight buy rate across 21 major east-west routes increased by 5.3% year on year in May to reach $2.78 per kg.
While prices are up on a year ago, they are down on April when airlines were able to achieve a rate of $2.87 per kg as a result of declines on the transpacific.
However, last year prices between April and May also declined so it is not an unusual occurrence.
Looking ahead, the consultant said it expects an improvement in June: “Drewry’s East-West Airfreight Price Index dropped by 3.1% month-on-month in May due to lower rates on Asia to North America.
“The index is now about 5.3% above the same month last year, indicating strong underlying market fundamentals. Drewry expects airfreight rates to rebound in June.”
The Drewry figures mirror those reported by data provider Tac Index, with the average rate between Hong Kong and the US declining in May compared with April.

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