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Air cargo rates fall for fourth consecutive month in February: Drewry
AIR cargo rates continued to fall for the fourth consecutive month in February, hitting their lowest point on record since the Drewry's "Sea & Air Shipper Insight" started monitoring air freight rates in May 2012.
London consultancy Drewry reported its East-West Air Freight Price Index declined by 3.8 points in February to a reading of 79.2 with average rates falling 4.5 per cent, month-to-month, and 18.9 per cent, year on year to US$2.57 per kilogramme.
"Air freight rates are to remain challenged over the course of the year by weak global demand yet rising capacity, as buoyant passenger traffic releases more bellyhold space," said Drewry senior supply chain researcher Simon Heaney.
Drewry's Air Freight Price Index is a weighted average of all-in airfreight "buy rates" paid by forwarders to airlines for standard deferred airport-to-airport air freight services on 21 major east-west routes for cargoes above 1,000 kilogrammes.
London consultancy Drewry reported its East-West Air Freight Price Index declined by 3.8 points in February to a reading of 79.2 with average rates falling 4.5 per cent, month-to-month, and 18.9 per cent, year on year to US$2.57 per kilogramme.
"Air freight rates are to remain challenged over the course of the year by weak global demand yet rising capacity, as buoyant passenger traffic releases more bellyhold space," said Drewry senior supply chain researcher Simon Heaney.
Drewry's Air Freight Price Index is a weighted average of all-in airfreight "buy rates" paid by forwarders to airlines for standard deferred airport-to-airport air freight services on 21 major east-west routes for cargoes above 1,000 kilogrammes.
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