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."
Read more air cargo data news
Click here for a free digital subscription

Share this story

Related Topics

Latest airfreight rates news

Cathay Pacific hikes transpac BSA prices as market surges

By Damian Brett

Cathay Pacific Cargo is hiking its block space agreement (BSA) prices on its transpacific and India services in response to…

Read More

Share this story

IATA adds ‘quote and book’ service to rate portal

By Damian Brett

Airline association IATA has added a ‘quote and book’ function to its rate portal, with IAG Cargo the first cargo…

Read More

Share this story

Early planning the cause of September rate rise

By Damian Brett

Airfreight rates on major east-west trade lanes in September rose at a faster rate than last year as companies sought…

Read More

Share this story