AIRFREIGHT rates from China to Europe are continuing to soar, as airlines step up their numbers of cargo-only passenger flights to satisfy the urgent demand for personal protective equipment (PPE) and other medical supplies, price analysts have revealed to Thelma Etim.
Freightos Group’s WebCargo Sky e-bookings platform allows forwarders to find rates, access the capacity of airlines on specific flights, obtain ad hoc quote requests, and make ‘live’ bookings of specific shipments. According to its latest data, airfreight rates from Europe to the USA have ‘remained high’ yet stable.
“Yet for flights out of China [our] marketplace data indicates a further 25 per cent increase in air rates to most US and EU destinations since last week, putting [airfreight] rates at three to four times their normal level for this time of year,” Buchman warns.
“In many cases, this is pushing importers to switch to express services, [a situation which] is driving rapid capacity fluctuations.”
John Peyton Burnett, managing director at airfreight pricing specialist TAC index, confirms the impact of China’s determination to severely punish the perpetrators.
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