General overview: The resumption of factories after the CNY holiday, a large export volume of eCommerce cargo and the impact of the Lufthansa strike has led to European air freight space becoming very tight. Rates continue to rise.
Shanghai to London
- Airport operations are currently normal
- Hauliers are working as normal
- No flight cancellations
- Weather is normal
- Space is tight
- Rates are increasing
Shanghai to New York
- Airport operations are currently normal
- Hauliers are working as normal
- No flight cancellations
- Weather is normal
- Space is tight
- Rates are increasing
Shanghai to Los Angeles
- Airport operations are currently normal
- Hauliers are working as normal
- No flight cancellations
- Weather is normal
- Space is tight
- Rates are increasing
Shanghai to Frankfurt
- Airport operations are currently normal
- Hauliers are working as normal
- No flight cancellations
- Weather is normal
- Space is tight
- Rates are increasing
Shanghai to Melbourne
- Airport operations are currently normal
- Hauliers are working as normal
- No flight cancellations
- Weather is normal
- Space is tight
- Rates are increasing
Shanghai to Sydney
- Airport operations are currently normal
- Hauliers are working as normal
- No flight cancellations
- Weather is normal
- Space is tight
- Rates are increasing
Market intel
Air cargo’s “surprisingly” strong start to 2024 continues in February
The air cargo market reported another double-digit percentage increase in demand in February continuing a “surprisingly strong” strong start to the year as e-commerce boosted demand levels.
The latest figures from data provider Xeneta show that air cargo demand increased by 11% year on year in February, while the dynamic load factor improved by four percentage points on a year ago to 60%.
Rates were down 14% on a year ago at $2.29 per kg but “unusually” improved by 2% on January’s levels.
Air cargo spot rates tend to decline following the year-end peak season in the previous year and in the period immediately after the Lunar New Year, before rebounding towards the year-end holiday seasons this year, Xeneta explained.
The data provider said the increases were likely driven by rising e-commerce demand as well as some overspill from ocean due to the Red Sea shipping crisis, which even saw some sea-air hubs add short-term embargos to clear backlogs.
Source: AirCargoNews
Comments
0 comments
Please sign in to leave a comment.