Drewry: Air freight prices inch up in July

   Air freight prices inched up to an average of $3.32 per kilogram in July, rising $0.02 from the average price paid in June, according to Drewry’s East-West Air Freight Price Index.
   The index takes an average of rates paid by forwarders, including surcharges, on 21 key trade lanes.
   The July rate reflects an increse of $0.26 over the average rate seen in July 2013, but a decline of $0.05 from April, which is the month with the highest rate so far this year.
   Drewry analysts said the July results, when measured in the context of the year-over-year growth, show a clear air-freight pricing recovery.
   “Pricing stability has been supported by the removal of freighter capacity that has compensated for a seasonal rise in bellyhold space,” according to Drewry. “Hence, Drewry expects air freight rates to remain stable through August. However, thereafter, pricing is expected to rise as new product launches, such as the iPhone 6, lead to a tightening of capacity.”