Asia airfreight rates are high and climbing higher

After a three-week lull, prices for air exports from China have turned noticeably upward, a trend most international trade professionals expect will continue through the end of the year as the traditional peak shipping season overlaps with high demand for coronavirus medical supplies and online retail orders, and major product releases from big tech companies.

Outbound spot rates from China to Europe and the U.S. increased in the last week of August, highlighted by a  10.8% increase in the Shanghai-Europe market and an 18.4% rate hike for Shanghai to the U.S, according to data compiled by The Air Freight Index Co. (TAC)

With capacity leaving China about 19% less than last year, air cargo rates are about 25% to Europe and 35% higher on the transpacific.

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