Air Cargo Spot Rates Fall by 41% YoY in June
Air cargo spot rates experienced a significant drop in June, causing unease among airlines and forwarders.
The air freight industry saw a slowing of volume declines last month, which led to a significant drop of 41% year over year in general air cargo spot rates in June, according to Clive Data Services. The global average air freight spot rate in June stood at $2.31 per kilogram, showing an industry grappling with market fluctuations. Industry insiders, such as Niall van de Wouw, Chief Airfreight Officer at Xeneta, suggest that falling rates, rather than volumes, have caused increased anxiety among airlines and forwarders. In an industry trying to navigate the market post-pandemic, freight forwarders are feeling pressure from shippers to renegotiate prices, reflecting the current market value.
Source: Supply Chain Dive