The air freight market is heating up fast as the peak season gets into its stride. Forwarders have a three-day wait to fly cargo out of key hubs in Asia, he added. Emirates is thought to be full already for the rest of the week, ex-Hong Kong. Shanghai is also seeing strong demand, and there has been a rise in charter flights to the US, with charter rates increasing apace, and some destinations now not available.
Crucially, November 11, singles day, is coming up and forwarders are predicting higher demand from then through to the end of November.
Europe too is already seeing movement, but rates are said to be more unsettled, although rising, with some key trade lanes out of Shanghai already busy, with a four-day wait on ad hoc cargo.
Fuel prices are also on the rise, with many carriers raising surcharges, and all carriers out of Hong Kong will raise surcharges from Thursday.
The real question will be if airlines manage to profit significantly – and keep rates high by restricting capacity and selling as much ad hoc space as possible during the peak.
The other question is how e-commerce will affect the peak – and for how long.
Compliments of Jaguar Freight, a member of the EACCNY