Forwarders predict fall in airfreight rates as ecommerce eyes sea freight
Forwarders are warning that although the airfreight market currently seems stable, conditions could change very ...
© Roberto Maggioni
By Alex Lennane
The airfreight spot market from Europe to South Korea and Japan has soared in the past week, its market share up more than 60% and rates up more than 50%.
According to Accenture Seabury data, in the week to 18 March, capacity on Europe-NE Asia was down 22% on mid-February, as carriers cut capacity, owing to the restrictions on flying over Russia. Up to 13 March, capacity to Asia was down 42% versus 2019.
From Europe to South Korea, rates have risen 63%, ...
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