The air freight market is seeing one of its fastest peak seasons ever as prices soar.
Supplies to send raw material to South-East Asia, has heightened air freight market activity.
Intra-Asia rates have hit an “unprecedented” high – with prices higher than to Europe, with rates at between $4.50 and $5 per kg from Shanghai to destinations such as Singapore, Bangkok and Yangon.
Charter companies are making the best profits right now with prices seeing extraordinary rises for charters, citing $600,000 per freighter to Europe – or $6 per kg.
Also, many freighters are now busy with relief flights post Covid-19.
Rates started to rise recently, with China-Europe gaining 3% and mainland China-US up between 12% and 19% to some $3 per kg. Hong Kong-US rose more than 5% to $3.20.
Full freighter schedules have restarted with a number of notable airlines (Lufthansa, Qatar, Emirates, Cargolux), to name a few.
Supply disruption is now providing healthy load factors ex-Asia for freighter operators.
Source : Various Agencies