The air freight peak season is coming. Let’s see how people abroad see the annual air freight peak season data – August 2017

Air freight rates continue to climb, with the industry recording sequential monthly and year-over-year gains.

In Drury latest East-West Air Freight Price Index, July prices were 1.9% higher than June and around 1.5% higher than July 2016.

“In anticipation of the peak season, some freight forwarders have shifted their capacity allocation away from Asia and have added charter capacity,” Drury said. “We expect air cargo prices to rise further in August.”

The eastbound transpacific was the strongest route, up 5% year-on-year to $3.83 and up 2% from June, while the westbound route was up 4% year-on-year and 6% year-on-year to $1.69.

Carriers and gateways on both sides of the Pacific reported big gains, with Cathay Pacific’s sales up 14%, while Delta Air Lines (19%) and United Airlines (17%) also saw big increases.

Likewise, Hong Kong, Shanghai and the four major cargo gateways in the United States all saw double-digit rebounds in throughput, with Seoul (6.7%) and Tokyo (9%) lagging behind.

However, it is not good news as Asia-Europe traffic failed to make any progress, with rates down 1% to $1.76 and 2% in the case of eastbound trade compared to July 2016.

Still, optimism remains, with IATA using its first-half analysis to remind the industry that it had just experienced its best six-month period in seven years.

“The recovery in air cargo demand over the past year or so has been set against a stronger global economic and trade backdrop; this has been particularly evident with signs of growing orders from manufacturers around the world,” IATA said.

“Indeed, the new export orders component of the global PMI remains close to a six-year high and, crucially, above the nominal 50 mark indicating an increase in orders.”

IATA said the current level of growth would be consistent with the 8% year-on-year FTK growth in the third quarter of 2017.

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