Drewry Index: Dip in rates reflects impact of coronavirus

By Rachelle Harry

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.”

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