Shanghai airfreight rate declines show signs of slowing

Airfreight rate declines out of Shanghai have shown signs of stabilising over the last week.

The latest figures from TAC Index show that prices from Shanghai to North America last week declined by 4.3% compared with the previous week to $4.50 per kg.

From Shanghai to Europe prices slipped by 2.4% week on week to $3.21 per kg.

Prices from the Chinese hub have been declining rapidly over recent weeks after they surged in March, April in May due to urgent demand for personal protective equipment and the loss of bellyhold capacity.

However, the rate of decline has slowed over the last couple of weeks and prices are still above the figure for the same week a year ago, when carriers were charging an average of $2.42 per kg to Europe and $3.38 per kg to North America.

Meanwhile, prices from Hong Kong to North America last week declined by 18.5% to $4.55 per kg, while to Europe they were down 15.8% to $3.25 per kg.

The latest update from Accenture’s Seabury Consulting shows that capacity was last week 27% down on a year ago.

This is roughly the level it has been out over the last few weeks.

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Damian Brett

Damian Brett
I have been writing about the freight and logistics industry since 2007 when I joined International Freighting Weekly to cover the shipping sector.After a stint in PR, I have gone on to work for Containerisation International and Lloyds List - where I was editor of container shipping - before joining Air Cargo News in 2015.Contact me on [email protected]