{"id":103868,"date":"2024-10-29T16:47:01","date_gmt":"2024-10-29T09:47:01","guid":{"rendered":"https:\/\/advantage.vn\/?p=103868"},"modified":"2024-11-13T16:55:18","modified_gmt":"2024-11-13T09:55:18","slug":"mixed-performance-for-hong-kong-air-cargo-rates-in-october","status":"publish","type":"post","link":"https:\/\/advantage.vn\/en\/mixed-performance-for-hong-kong-air-cargo-rates-in-october\/","title":{"rendered":"Mixed performance for Hong Kong air cargo rates in October"},"content":{"rendered":"

Airfreight rates on the transpacific trade were on the slide in October but increased as the month progressed, while prices to Europe continued to improve.<\/strong><\/p>\n

The latest figures from the Baltic Exchange Airfreight Index (BAI) calculated by TAC Index show that average rates \u2013 both spot and contract \u2013 for the trade lane decreased to $5.73 per kg in October compared with $5.98 per kg in September.<\/p>\n

Many had been expecting rates in October to ramp up due to three days of port strikes on the US east and Gulf coasts and as a reflection of the historical increase between the two months as the industry heads towards the peak season.<\/p>\n

However, it appears the weaker-than-expected market reported in September continued in October and this, combined with the effects of the Golden Week holiday in China, took its toll on the market.<\/p>\n

\"Mixed<\/p>\n

It should be noted, however, that rates did improve as the month progressed and by the end of the month had reached $5.89 per kg.<\/p>\n

Compared with last year, rates between Hong Kong and North America are up 4.4% on last year, but this is down from the 22% year-on-year improvement registered in September \u2013 perhaps a reflection of the improving market conditions last year.<\/p>\n

Meanwhile, rates from Hong to Europe in October continued on an upward trajectory that started in August. Rates on the trade reached $4.88 per kg in October compared with $4.66 per kg in September reflecting usual seasonal trends.<\/p>\n

Compared with last year, rates are up 14.6% year on year. However, this does represent a narrowing of performance compared with the summer months when the year-on-year improvement was more than 20% \u2013 perhaps a reflection of improving market conditions last year.<\/p>\n

For the Frankfurt-North America trade, rates continued to trend downwards and were 18.3% behind last year\u2019s levels due to the amount of passenger capacity that has been added back into the market over the past year.<\/p>\n

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