In the week ending 19 January, the air cargo spot rate from Hong Kong to Western Europe increased 17% year-on-year to USD 5.12 per kg. This rise is partly attributed to the pre-Lunar New Year cargo rush, as the holiday begins 28 January this year—more than a week earlier than last year.
Additionally, while this year’s rates are below 2023 levels, they remain 80% higher than in 2019, before the pandemic, e-commerce surge, and Red Sea crisis.
