Airfreight rates reach high for the year in October

Airfreight rates reached their highest level of the year in October and are expected to climb further as the peak season gets underway.
The latest figures from consultant Drewry in its Sea & Air Shipper Insight report show that average rates on 57 key trades reached $3.02 per kg in October compared with $2.81 per kg in September. Meanwhile, prices are up 8.6% year on year.
The increase compared with September shouldn’t come as too much of a surprise as rates tend to ramp up at this time of year as the industry enters its peak season.
Looking ahead, the consultant expects prices to continue to rise:"Drewry’s East-West Airfreight Price index reached its highest point this year in October, rising by 7.5% month-on-month to $3.02/kg. Based on the anecdotal reports and seasonal trend, Drewry believes rates will increase again in November."
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