According to the latest figures in Drewry’s East-West Airfreight Price Index, airfreight rates so far in 2018 are bucking the typical pattern of decline following the traditional “peak season” late last year.
Rather than easing back as usual, freight rates increased by 3 percent, month-over-month, in February, marking only the second time in six years such an increase has occurred in February. Year-over-year, rates were up 14.2 percent in February, to US$2.84 per kilogram, thanks to robust demand growth and more modest capacity growth.
However, Drewry doesn’t expect the unusual month-to-month activity to continue, although March rates this year should still stand well-above March 2017 levels. According to Drewry research analyst Shakin Prveen, “Drewry expects the index to soften in March, although it should remain above the comparable 2017 level as a result of strong demand.”
Read more detailed analysis of the Drewry report from our sister publication, Cargo Facts: