The average price of air freight on east-west routes fell to $3.31 per kilogram in January from $3.58 per kilogram in December, according to Drewry’s East-West Air Freight Price Index.
In November, pricing hit a high for 2013 at $3.81, following an average in October of $3.73. Aside from the last quarter of the year, pricing in 2013 never rose above $3.32, which was measured in February.
The Drewry index averages rates paid by forwarders on 21 air freight lanes. Rates include the base rate, and security and fuel surcharges.
“Air freight rates fell markedly in January as peak season demand waned and the build up to Chinese New Year failed to support pricing,” Drewry said.
The firm added that rates from Asia to North America and Europe declined in January, but that air cargo to Asia experienced some stability in rates.
“Looking further ahead, some recovery is anticipated for March/April,” Drewry said, “when an uptick in seasonal demand is anticipated to buoy rates.”