air freight market
North China: Demand started to rise slowly this week, and the upward trend is expected to remain until the Spring Festival holiday. Prices also started to climb this week. The new coronavirus detection kit is still a hot commodity in the market.
South China: The Trans-Pacific Eastbound Route (TPEB) remains canceled after an airline crew member tested positive for Covid-19 a few days ago. Far East North Europe route (FEWB) prices fell this week, the market capacity is relatively abundant.
Taiwan, China: The market recovered rapidly and TPEB prices rose. FEWB routes remain stable, but a possible tightness is expected in the last week of the month.
Southeast Asia: Bangkok International Airport (BKK) export demand has not fully recovered from the fourth quarter of last year, but demand is expected to pick up before Chinese New Year. The overall level of prices fell. Export demand in northern Vietnam continued to decline, with TPEB prices hitting a three-month low and FEWB prices falling slightly. Export demand in southern Vietnam was also weak, but prices were more stable relative to northern Vietnam. Most carriers continue to prefer to accept bulk cargoes rather than palletized cargoes.
Demand is at manageable levels so far this week. Prices remained stable and did not drop significantly over the last week.
Capacity is stable, with a small amount of new capacity from London Heathrow (LHR), but the overall level of the market has not changed significantly. Some flights are expected to be cancelled due to the Omicron virus.
If you can accept a longer transit time, it is still recommended to choose an airline with a longer delay but with passenger capacity that can carry cargo in the belly hold to get a better price.
No congestion at European export hubs.
The advice for European exports is as always, book ahead to ensure the right price and shipping options. It is recommended to consider air freight for small shipments to obtain the most optimized price and shipping solution.
U.S. export demand remains weak, but warehousing services from China to the U.S. are expected to pick up slowly in the second half of January. Capacity is at a manageable level.
The backlog of imported cargo at the Los Angeles International Airport (LAX)/Chicago O'Hare International Airport (ORD)/New York JFK (JFK) cargo terminal improved slightly, benefiting the export side.
For bulk shipments from export hubs, it may take 2 to 3 days from booking to departure.
Some domestic and international flights in the U.S. have been canceled and/or postponed due to the Omikon virus.
Most cargo terminals have shortened the free inventory time and implemented an earlier cut-off time for export goods to allow for longer sorting and screening time.
Prices to Latin America, Europe and Asia rose slightly compared to the first two weeks of January.
Congestion at European shipping hubs is improving, with the average dwell time at destinations slightly shortened.
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