Airfreight rates began their Lunar New Year holiday decline last week after rising in the first six weeks of the year.
The latest figures from TAC Index show that last week overall airfreight rates slipped by 8.2% compared with the week before and are down 21.2% from a year ago.
“Despite ongoing disruption to ocean shipping in the Red Sea and congestion leading to the suspension of business in certain locations such as Dubai and Bangkok, the overall decline last week was not surprising as air cargo volumes out of China fell sharply during the Lunar New Year holidays,” TAC Index said in a weekly round up.
