Air Cargo Industry Faces Unexpected Shifts in Peak Season Demand

Nov 25, 2024

1 min read

The air cargo sector, initially bracing for a busy peak season out of Asia, has seen a surprising dip in airfreight rates in recent weeks. While the market remains active, rates are not aligning with expectations. Experts, including Marcus Ng of Maersk, suggest that early shipments were driven by concerns over potential port disruptions, especially in the US. Shippers have also adopted more proactive strategies, planning further ahead to mitigate risk. The Baltic Airfreight Index reports a slight decline in overall rates, but some routes, like those from China and Vietnam, are still seeing gains.

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The trend in shipping rates shows a decrease for Europe (-5.1%), Korea (-3.2%), the East Coast of North America (-0.5%), and the West Coast of North America (-0.2%) compared to the previous week.

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