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Air Rates Hit New Low

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SASI Tier 1 Sea & Air Shipper Insight Tier 1

London, UK, 6th August, 2013 – Air freight rates suffered another month of falls in June, sinking to new lows, according to Drewry’s monthly Sea & Air Shipper Insight report.

Drewry’s East-West Air Freight Price Index, a weighted average of air freight rates across 21 East-West trades, fell by 2.7 points in June to 94.3 points. Some erosion in pricing was anticipated as the trade entered the high season for passenger demand which tends to depress air cargo load factors. But June’s fall brought the index down to its lowest level since it was launched in May 2012.

“We expect air freight pricing to remain under pressure until the end of this holiday season, after which carriers are expected to rein in capacity which should buoy rates,” said Simon Heaney, research manager at Drewry.

Despite the fall in air freight pricing, Drewry’s East-West Air Freight Price Multiplier jumped 1.2 points to 15.3, to reach its highest level since Drewry first started publishing its Multiplier in May 2012.

Container shipping rates continued their fall of previous months, losing 10% on East-West trades in June (though have since recovered in July), so widening the price differential between the two modes of transport.

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