News / Air freight rates looking up as passenger-freighters leave the market

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Air freight rates have ticked up after the declines of the past weeks, with forwarders reporting further increases on the way.

One forwarder noted: “Rates have jumped by up $1 per kg this week from Shanghai to Europe, and carriers announced increases yesterday and today. We expect further advice tomorrow and for the weekend.”

He said the rate rises were due to falling capacity as passenger-freighters leave the market, weak passenger demand, rising PPE requirements for some countries seeing more Covid cases ...