Drewry Index: Dip in rates reflects impact of coronavirus

Airfreight rates continued to slide in January, declining 5% from December and 11% from a year earlier.

The latest Drewry East-West Airfreight Price Index report shows that prices dipped $0.16 in January 2020 to $2.59 per kg, down from $2.74 in December. The January 2020 rate compares with $2.91 per kg for the same month last year.

Drewry suggests that the coronavirus is negatively impacting industry trends after what was already a challenging year for airfreight last year.

“After the worst year for air cargo since the global downturn of 2009, the industry appeared poised for a return to modest growth in 2020,” Drewry said, “But the COVID-19 outbreak has clouded the outlook.

“Therefore, Drewry expects no upturn in airfreight rates until the epidemic can be brought under control.”

Share this story

Related Topics

Latest business news

Scan Global Logistics plans for further acquisitions

Fast-growing Scan Global Logistics said it is planning to make more acquisitions with a focus on growing in key markets….

Read More

Share this story

Yusen Logistics takes operations to Ezhou Huahu Airport

Japanese firm Yusen Logistics plans to start cargo terminal and charter operations at Ezhou Huahu Airport in China next year….

Read More

Share this story

ANA again pushes back takeover of freighter airline NCA

All Nippon Airways (ANA) has for a third time delayed its planned takeover of freighter carrier Nippon Cargo Airlines (NCA)…

Read More

Share this story