Drewry: Air freight rates recovered in March

   The cost of shipping air cargo on the east-west trade lane rose $.20 in March to $3.34, according to Drewry, reflecting a predicted recovery in air cargo rates after a sluggish February.
   According to Drewry’s East-West Air Freight Price Index, which averages the cost of one kilogram of airfreight paid by forwarders on 21 major east-west routes, January and February cargo prices averaged to $3.21 and $3.12, respectively. In October, air cargo rates hit $3.81, the high-water mark for 2013.
   Drewry analysts attributed the March rise to “high-end summer fashion apparel and more high-tech consumer goods” that boosted traffic out of Asia. They added that prices will ramp up in April as well.
   “Looking further ahead, the prospect of further freighter capacity rationalizations are also expected to support stronger pricing,” company analysts said.