Airfreight rates see growth narrow in December
The latest figures from consultant Drewry show that airfreight rate growth narrowed as 2018 drew to a close. The consultant’s Sea and Air Shipper Insight report shows that average freight rates on major east-west lanes increased by 2% year on year in December.
Compared with November, there was a 3.5% decline, which reflects normal seasonal trends. While prices are ahead of year ago, the level of improvement has narrowed.
Drewry expects further rate decrease.
During the first quarter, prices were 3.5% up on the prior year, in the second quarter there was an 8% difference and in the third quarter that had come down to 4.8%.
For 2018 as a whole, average prices on east-west lanes were 4.9% ahead of 2017 levels. Looking ahead, Drewry said: “Drewry’s East-West Airfreight Price index dropped 3.5% month-on-month, to $3.07 from $3.18 – but up by 2% on the previous year’s $3.02 rate. Based on the anecdotal reports and seasonal trend, Drewry expects rates to further decrease in January.”