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Freighter flights resuming at Shanghai, but reduced capacity pushes rates higher

After the widespread cargo disruption at Shanghai Pudong Airport (PVG) due to drastic Covid policies, freighter flights are slowly resuming, but a reduced workforce means week-long cargo delays and fast-moving freight rates. Space is still scarce and EU destinations are currently delayed two-to-three days. One Chinese forwarder in Shanghai expects that most freighters will be back to schedule soon, while all passenger-freighters will remain cancelled until 5 September. Furthermore, with capacity from PVG down 30%-50%, rates are continuing the upward spiral experienced since the start of the year.


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CCFI Summary week 14

Ocean freight rates decreased via North America East Coast (-3.9% week-over-week), North America West Coast (-2.8%), Europe (-0.7%), and Korea (-1.9%).


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