Forwarders warn of likely further air freight rate rises ex-India
19 Mar, 2024
Forwarders are reporting air cargo congestion and rising air freight rates out of the Indian sub-continent – a situation they fear may get worse, owing to religious festivals.
Rates from India to Europe have risen 75%, month on month, according to data from Xeneta, with spot rates for the week ending 10 March at $2.85/kg. Bangladesh to Europe has risen 29%, to $3.44.
Wenwen Zhang, Xeneta airfreight analyst, said: “The surge in spot rates from India to Europe is primarily due to spikes in demand in recent weeks, in particular, apparel. In the week ending 25 February, demand out of India was 29% higher than last year’s peak week in early June.”