AJOT Newsroom
| January 19, 2023
| Air Cargo | Freighters | Maritime | Liner Shipping
1 Transpacific ocean rates have been stable for more than a month, falling below 2019 levels in the last couple weeks with the absence of the typical mini-demand surge ahead of Lunar New Year.
2 Despite falling demand and an 80% drop compared to a year ago, Asia to N. Europe rates remain above 2019 levels.
3 As congestion eases Freightos.com China - US ocean transit time data show average duration in December was 35% lower than a year ago, though some lingering East Coast and Gulf congestion is keeping transit times 20% higher than in 2019.
4 Freightos Air Index rates ex-China to N. America and Europe are more than 30% lower than a year ago when demand was surging. Despite these price declines, fuel and labor costs are keeping air cargo rates more than double 2019 levels.
