After several years of volatility, the air cargo market is anticipated to stabilize in 2024, with a return to “classic seasonality.” However, industry experts caution that unforeseen events could still cause turbulence. Data provider Xeneta projects modest growth of 1-2% for air cargo volumes in 2024, while supply is expected to increase at a slightly […]
Read MoreAirfreight rates continue to soar as a combination of extreme weather events, volcanic activity, and ongoing conflicts disrupts global air cargo capacity. The latest figures from TAC Index reveal a 4.6% increase in the Baltic Air Freight Index for the week ending November 20, compared with the previous week. China leads the charge in rate […]
Read MoreOcean carriers are facing the threat of lower contract rates in 2024, as spot market prices remain under pressure. A new analysis by Xeneta shows that its long-term freight rate index declined by 2.6% in October and has fallen by 62.2% in the past 12 months. The firm expects the decline to continue in the […]
Read MoreAir cargo demand hopes for a late-year surge faded in October, with data showing only a slight increase in demand. Xeneta, a data provider, reports that air cargo demand rose 2% in October compared to September, which it describes as “sub-seasonal” compared to the previous five years. General air cargo spot market rates also increased […]
Read MoreAir freight rates on major east-west routes rose faster than expected in October, as the industry entered its traditional peak season. The Baltic Exchange Airfreight Index (BAI) showed that average spot and contract rates from Hong Kong to North America increased by 18.4% compared with September to $5.80 per kg. This is still 13.9% […]
Read MoreThe air cargo industry has seen some improvement in recent weeks, with rates tightening and demand increasing. However, experts remain cautious, warning that it may be too early to celebrate a full recovery. The Baltic Exchange Airfreight Index (BAI) rose 0.7% in the week to October 9, cutting its year-on-year decline to -29.2%. This […]
Read MoreFreight rates are higher and scheduling complications are worse than pre-COVID ‘normal’. Container rates for U.S. imports have normalized. Rates for America’s exports have not. Both spot and contract rates for U.S. exports are still up double digits from pre-COVID levels. And rates are not the biggest cost issue exporters face, according to Peter […]
Read MoreMembers of the West Coast Marine Terminal Operators Agreement (WCMTOA) announced that the PierPass fee will increase on November 1, 2023 by 4 percent, from USD 34.21 per TEU (twenty-foot equivalent unit), and USD 68.42 for all other container sizes, to USD 35.57 per TEU, and USD 71.14 per FEU (forty-foot equivalent unit), respectively. This fee is called […]
Read MoreAirfreight rates showed signs of recovery in September, marking the first significant improvement in over a year. The latest figures from the Baltic Exchange Airfreight Index (BAI) show that average rates – spot and contract – paid by forwarders from Hong Kong to Europe and North America increased for the second month in a row […]
Read MoreOcean Carriers’ Successful Vessel Supply Adjustments Could Be Disrupted by New Vessel Deliveries. Recent increases in freight rates on the trans-Pacific route have been attributed to ocean carriers successfully adjusting vessel supply to meet demand through schedule changes and canceled sailings. However, this balance could be disrupted by the impending delivery of new vessels, […]
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