Drewry’s most recent East West airfreight price index reflects the downturn in demand for airfreight in the first quarter of 2019 being experienced internationally by many airports and carriers.
Its report for the month of February shows that rates dropped 10 percent to US$2.47, year-over-year, and 15 percent between January and February.
The decline is somewhat indicative of the winter lull in demand for airfreight, exacerbated by the Chinese New Year holiday, but such factors cannot be entirely to blame for such a significant margin, Drewry said.
The organization said it “expects airfreight rates to rise in March,” which would be expected entering spring, however, it doesn’t seem likely we will see any more year-over-year increases anytime soon.