The Lunar New Year holiday period brought a welcome surge in cargo activity ahead of the celebrations beginning around 28 January.
Among the regions observing the holiday, Hong Kong, mainland China, and South Korea to Western Europe markets experienced rising spot rates from the week ending 12 January, recovering from early-year lows. Vietnam’s outbound spot rates began increasing only from 26 January.
Across all four markets, air cargo spot rates into Western Europe in the week ending 2 February remained higher than the same period a year ago. Vietnam’s outbound market showed the strongest growth of 28%, while China’s outbound market recorded the most modest increase of 6%.
