News / Plunging sea freight rates bad news for air cargo as price gap hits new record

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The continuing frailty of maritime container spot freight rates could spur a new era of modal shift from air to ocean, Drewry Supply Chain Advisors warned today as the pricing gap between the two modes reached record level.

In recent weeks, container freight rates, particularly on the main east-west trades between Asia and Europe and the transpacific, hit some of the lowest levels ever seen, caused by a combination of unexpectedly low demand and overcapacity.

At the same time, while air freight ...