{"id":787,"date":"2020-10-09T11:55:03","date_gmt":"2020-10-09T11:55:03","guid":{"rendered":"https:\/\/phoenixglobalgroup.com\/?p=787"},"modified":"2024-02-27T09:52:09","modified_gmt":"2024-02-27T09:52:09","slug":"rising-air-freight-load-factors-and-rates-make-out-a-toxic-combination-for-shippers","status":"publish","type":"post","link":"https:\/\/phoenixglobalgroup.com\/el\/nea\/rising-air-freight-load-factors-and-rates-make-out-a-toxic-combination-for-shippers\/","title":{"rendered":"Rising air freight load factors and rates make out a ‘toxic combination’ for shippers"},"content":{"rendered":"
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By\u00a0Alex Lennane<\/a><\/p>\n

\n

High load factors, air freight rates and uncertainty is a \u201ctoxic combination\u201d for shippers as the air cargo market continues to grow.<\/p>\n

According to the latest data, volumes are flowing back into air freight and prices are rising while the industry waits to see what is in store for the \u2018peak\u2019 period.<\/p>\n

September saw a record dynamic load factor, of 70%, up two percentage points (pp) from August and 8pp higher than a year earlier.<\/p>\n

Load factors rose to 71% in the week of 28 September, according to the latest analysis from Clive Data Services. Chargeable weight in September was up 9% month-on-month, while global air cargo capacity was 25% lower than the same month in 2019.<\/p>\n

That capacity constraint continues to trigger pricing increases, according to TAC Index.<\/p>\n

\u201cIt is interesting to see how closely demand\/volume and pricing correlate in light of the fact there are a lot fewer BSAs (block space agreements) in place, currently,\u201d said Robert Frei, business development director.<\/p>\n

\u201cThere were steady increases in pricing, week over week, in September, with rates on lanes from China\/Hong Kong to the EU in the last week of September 8% higher than in the last week of August.\u201d<\/p>\n

China\u2019s Golden Week holiday likely accounted for a slight reduction in weekly volumes on China-Europe last week, they were down 3%, while previously there has been mostly positive growth.<\/p>\n

The transatlantic, which was dominated by belly capacity pre-Covid, saw load factors rise to 84% on westbound routes, 18 pp higher than last year, while eastbound load factors were 68%, up 20 pp year on year. Rates on the routes rose 170% westbound and 73% eastbound, year on year.<\/p>\n

The rises mark the fifth consecutive month of growth for \u201cresilient\u201d air cargo, said Niall van de Wouw, MD of Clive Data Services, adding that \u2018boring is good\u201d. \u00a0But he warned of potential difficulties for customers.<\/p>\n

\u201cIt means shippers and forwarders are being faced with higher airfreight costs. Uncertainty over how the market will develop alongside very high load factors is a toxic combination for the buyers of airfreight capacity.<\/p>\n

\u201cIf this demand persists, and shippers are prepared to pay, we may well see a resurgence in passenger planes being deployed mainly, or solely, for moving freight. These remain uncertain times, but with more optimism in the market for October and November volumes, the question is: how far can the recovery go?\u201d<\/p>\n<\/div>\n

Source:
\nhttps:\/\/theloadstar.com\/rising-air-freight-load-factors-and-rates-a-toxic-combination-for-shippers\/<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

By\u00a0Alex Lennane High load factors, air freight rates and uncertainty is a \u201ctoxic combination\u201d for shippers [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[30],"class_list":["post-787","post","type-post","status-publish","format-standard","hentry","category-nea","tag-2020-el"],"yoast_head":"\nRising air freight load factors and rates make out a 'toxic combination' for shippers - PHOENIX GLOBAL FREIGHT GROUP S.A. - Since 1991<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/phoenixglobalgroup.com\/el\/nea\/rising-air-freight-load-factors-and-rates-make-out-a-toxic-combination-for-shippers\/\" \/>\n<meta property=\"og:locale\" content=\"el_GR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rising air freight load factors and rates make out a 'toxic combination' for shippers - 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