West Coast reached $12.71 per kilogram at the end of October, about four times the normal level, according to the Freightos Air Index. The benchmark rate from China to the U.S.
NEED SPEED FOR UPDATE
Spot rates have increased sharply in recent days, and shippers can expect transit delays of three to five days due to the limited capacity, freight management company Flexport said in a market update to customers. The China International Import Expo held in Shanghai from this Friday through next Wednesday has caused another pinch point, with some airlines canceling scheduled freighter and passenger freighter service during the event. HACTL was able to minimize the impact through increased overtime, rescheduling of some flights, redeployment of other ramp staff and subcontracting of some functions to other operators. The manpower shortage, plus two typhoons, affected about 20% of flights.
NEED SPEED FOR FULL
said it returned to full staffing and normal operations after authorities forced many workers into quarantine for contact with a single ramp worker who tested positive Oct.
On Monday, Hong Kong Air Cargo Terminals Ltd. But international passenger demand, which dictates how many widebody jets with lots of cargo capacity are flying on the key trade lanes, actually worsened by half a point to 69.2% below pre-pandemic levels.ĬOVID restrictions at certain airports have reduced labor available to load and unload planes, further constraining air capacity. The International Air Transport Association on Wednesday said the passenger airline sector saw a 2.7-point month-over-month improvement in traffic during September, primarily due to lifting of travel curbs in China, with total demand 53.4% below the 2019 benchmark. Flights with exports from Asia were full in October, hiking the price of shipping to Europe by 20% from September and rates to North America into double-digit territory.Ī systemic lack of capacity from reduced passenger flights due to the pandemic has made space difficult to find, freight experts say. In a panic over slower factory production due to power rationing in China and shortages of semiconductors, as well as ocean shipping backlogs that have quadrupled delivery times, more retailers and manufacturers have rushed to make emergency air shipments since July. Increased use of airfreight by shippers trying to avoid clogged ports is adding pressure to overtaxed air capacity and sharply pushing up rates, especially out of Asia, but new data showing demand plateaued in October reinforces evidence that the traditional busy shipping season started earlier than normal. The Forum at FreightWaves LIVE (Fall 2019).Podcasts: FreightWaves FreightCasts Network.
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