Air freight rates in Asia shrink in February amid traffic decline

AIR freight rates out of Asia declined to a 17-month low in February, after falling 14.1 per cent compared to the same month last year, according to the Drewry Air Freight Price Index that measures freight rates from Shanghai.


February's result of 98.1 on the index was also 6.4 per cent lower on a month-by-month basis, Newark's Journal of Commerce. The decrease in freight rates coincided with February's 4.2 per cent year on year decline in air freight volumes carried by airlines based in Asia, on a capacity increase of 1.7 per cent, according to the Association of Asia-Pacific Airlines.


Compared to the month before, air freight volumes shrunk by 14.5 per cent, which was attributed to the Chinese New Year holidays in early February halting factory production.
(Source:http://www.schednet.com)