News / 'Unprecedented' market conditions bite into Asia-EU air freight rates

© Jordan Tan

A perfect storm of slowing production, overcapacity, and a lack of ‘hot’ consumer must-haves is causing air freight rates to sink to some of the lowest levels seen in years.

Data from China showed a 25.4% year-on-year slump in the value of the country’s exports February, the sharpest fall  since May 2009. “I know it was Chinese new year, but this is unprecedented,” said one forwarder.

With some forwarders reporting that rates for sea freight on the westbound trade is now ‘free’, ...