Drewry: Peak season boosts September freight rates – finally

Airfreight’s peak season is finally being reflected in freight rates for East-West routes. After remaining surprisingly flat through August, airfreight rates rose to their highest average rate since January with a seasonal boost, climbing to US$2.68 for September, according to Drewry’s East-West Airfreight Price Index.

This brings airfreight rates to about where they were last September, when they stood only a penny higher, at US$2.69. The jump in rates during the month was expected with typical seasonal trends, Drewry research analyst Shakin Praveen said. The index rose to its highest level since January 2017, up 4.1 percentage points from August.

“With the market continuing its upwards trend, Drewry expects airfreight rates to increase further in October,” Praveen added. If the remainder of 2017 continues to track last year’s seasonal trend, rates should reach about $3 for November, he added.