News / Shippers eye longer-term airfreight contracts to avoid ocean delays

© Lacheev |

Shippers have increasingly been committing to longer-term fixed rate contracts in airfreight – but could struggle to retain those rates if the Red Sea disruption causes a spike in air capacity demand.

In the final quarter of 2023, contracts of more than six months’ length accounted for 45% of all agreements, up five percentage points from the third quarter, according to Xeneta data. Six-month contracts accounted for 28% of the market, while contracts of one month or less made up just ...