By bongdaso nét first half of August, newly-contracted long-term general cargo sell rates hit .42 per kg, up 30% year-on-year.
An already-hot summer on bongdaso nét Northeast Asia to Europe air freight market is heating up further as rates hit bongdaso nét highest level in nearly a year-and-a-half.
By bongdaso nét first half of August, newly-contracted long-term general cargo sell rates hit .42 per kg, up 30 percent year-on-year, according to bongdaso nét latest update from Xeneta. "bongdaso nét peak season surcharges introduced in May and June have now been removed but bongdaso nét increasing base rates were clearly enough to elevate bongdaso nét market."
It was a similar scenario for freight forwarder buy rates with only bongdaso nét seasonal buy rate (valid for more than one month) growing at a slower pace (+16 percent year-on-year) compared to bongdaso nét sell rates, bongdaso nét update added.
"Looking at forwarder buy spot rates (valid for up to one month), its growth is a leading indicator for bongdaso nét market as it tends to precede movement in forwarder sell rates on this corridor by around nine weeks. In early August, bongdaso nét forwarder buy general cargo spot rate grew 40 percent year-on-year, outpacing bongdaso nét growth in bongdaso nét forwarder sell rate (+30 percent year-on-year). bongdaso nét general cargo spot rate growth also exceeded bongdaso nét global average spot rate growth by bongdaso nét same ratio. Key drivers for this growth are strong e-commerce demand and a revival in semiconductor demand due to high-performance computing and bongdaso nét AI boom.
"But as Europe goes on summer vacations, there are signs that forwarder buy spot rates are now peaking after cargo volume on this corridor peaked in mid-June. This aligns with developments in ocean container shipping where spot rates from Northeast Asia to Europe ticked down two percent in August after peaking in late July."
Looking ahead, airlines remain optimistic about bongdaso nét year-end peak season and they seem to be more prepared this time, bongdaso nét update added. Several airlines are adding capacity to bongdaso nét Northeast Asia to Europe corridor, with some even shifting their freighter capacity away from Latin America.
"With more than a third of cargo volumes still procured by freight forwarders in bongdaso nét spot market (10 percentage points above pre-pandemic levels), shippers need to take action. They should align with freight forwarders on peak season mechanisms before freight rates get uncomfortably high.
"There is one caveat. Europe’s consumer spending remains muted along with fears of a global recession following a recent weak US jobs report. If upcoming cargo demand loses steam due to shippers frontloading imports during bongdaso nét usually slacker summer season, there could be a more muted end to 2024."
Continued geopolitical unrest in bongdaso nét Middle East and Ukraine, strong low-value e-commerce demand and an early Chinese New Year in 2025 might perhaps be enough to keep air cargo rates high, bongdaso nét update added.
Source: https://www.stattimes.com/air-cargo/air-cargo-shippers-face-pricier-summer-on-northeast-asia-europe-route-1352953?infinitescroll=1
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