London, UK, 19 December 2018 – Air freight rates on major East-West routes hit a 4-year high in November, according to the results of Drewry’s East-West Air Freight Rate Index.
The index jumped by 5% in November, to US$3.18 per kg, and was 2% higher than during last year’s already strong peak season.
“The fear of US tariffs pushed short-term demand and air freight rates in the transpacific this peak season, but rates have also been remarkably strong in the transatlantic and Europe-to-Asia routes this year,” said Philip Damas, director of Drewry Supply Chain Advisors, the logistics consultancy arm of Drewry.
More detailed analysis in the Sea & Air Shipper Insight rate database shows that fuel surcharges have started to fall on some routes, helping to mitigate the increase in rates.
“Sea & Air Shipper Insight” is a monthly report published by Drewry Maritime Research and is priced at $1,825 for an annual subscription.