Drewry: Air cargo rates up 1.5% in July

Airfreight rates rose on east-west routes to an average of $2.64 per kilogram in July 2017, an increase of 1.9 percent from the previous month and 1.5 percent from the same 2016 period, according to Drewry’s East-West Airfreight Price Index    The average price of airfreight on east-west routes rose to an average of $2.64 per kilogram in July 2017, up from $2.59 per kilogram the previous month, according to Drewry’s East-West Air Freight Price Index.
   “Drewry’s East-West Airfreight Price Index continued its upward trajectory in July, an increase of 1.9 percent month-on-month, and about 1.5 percent above the same month last year,” the firm said in its latest Sea & Air Shipper Insight publication.
   In January, air cargo pricing hit a high at $2.77 per kilogram, with the highest-ever average price in November 2016 at $3.06. Aside from the last quarter of 2016, pricing has stayed under $2.80 since July 2016, Drewry said.
   “In anticipation of a strong peak season, several forwarders have upped their capacity allocations out of Asia and have lined up charter capacity. Drewry expects the airfreight rates to further grow in August,” the firm said.
   The Drewry index averages rates paid by airfreight forwarders on 28 major east-west lanes. Rates include the base rate, and security and fuel surcharges.