Drewry air freight index recovering after year-on-year decline

LONDON's Drewry Shipping Consultants notes that March air freight out of Shanghai was back to its highest level in five months after falling 5.6 per cent year on year.


The Drewry Air Freight Price Index went up 9.2 per cent from February to March as demand increased following Chinese New Year. This showed the Drewry index at 107.1, its highest rating since November 2010.


The index, derived from export rates from Shanghai, showed that air freight has been recovering month to month in 2011 despite a year-on-year decline.


The Association of Asia-Pacific Airlines said available cargo space grew 6.1 per cent in the first quarter over the same quarter a year ago while freight traffic grew just 1.1 per cent.
(Source:http://www.schednet.com)