The per-kilogram cost of shipping air cargo on east-west lanes fell to $3.12 in February, continuing a steady decline measured since a $3.81-per-kilo high in November, according to Drewry.
In its monthly East-West Air Freight Price Index, Drewry averages the price of rates across 21 trade lanes.
February’s pricing represented a $0.09-decline from January and a year-over-year drop of $0.20. Drewry’s index hasn’t been as low as February’s result for the past year; it hit $3.14 in August, but has fallen no lower than that.
Analysts said the weakened rates in February were tied to lower demand, which was due to factory closures during the Chinese New Year. They anticipated a raise in rates in March and April as seasonal demand increases; capacity reductions will also help raise pricing.