Date: Jan 10 2017
Title: Air Freight Market Update Report for Week 02

Demand for space began picking up last week in advance of Lunar New Year (January 27th). Air carriers have begun to increase rates which will carry through to the holidays. As cargo volumes pick up at transit hubs there may be some slight delays in transit times.

Following are highlights from around our Asian network.

Bangladesh: An upcoming Muslim Congregation called Bishwa Ijtema will be held from January 13 to 15 and a second phase from January 20 to 22 in the immediate vicinity of Hazrat Shahjalal International Airport (DAC).  The government expects worldwide attendance to be between three to four million visitors.  There will be serious traffic congestion associated with the Ijtema which will delay cargo transport to and from the airport. Airport operations will be normal and there have been no announcements of flight cancellations.


Shanghai: There is adequate space to meet demand and spot rates are available on a case-by-case   basis. Airlines are expected to announce rate increases this week in advance of Lunar New Year. 

Xiamen: There are no reports of backlogs.  Spot rates are available for the large volume shipments.

Guangzhou & Shenzhen: Space to the US and Europe began tightening last week in advance of Chinese New Year.  Air carriers require 2 - 3 days advance booking. Airfreight rates to the US and Europe increased 3 - 5% compared with last week.

Hong Kong: Demand for space to the US and Europe surged last week and air freight rates drifted upward. These conditions are expected to persist up to Chinese New Year.

India: Major gateways are reporting adequate space to meet demand, stable rates and normal transit times.

Korea: There are no reports of backlog to the US West Coast and carriers are open to spot quotes.  Space to ORD and JFK, however is very tight this week. Available space will begin to tighten this week  because of strong volumes of cargo transiting via ICN from China and other Asian countries in advance of Chinese New Year Holidays.

Sri Lanka: There are no reports of cargo backlogs and air carriers are offering spot rates for large volume shipments. A number of flights have been rescheduled due to airport runway maintenance causing available space to tighten and airlines to impose a 12 hour cut-off time to receive cargo. Runway maintenance is expected to last until April.

Taiwan: Effective January 1st, BR and CI increased airfreight rates about 10-15% to the US and Europe.

Thailand: Demand of export cargo from Thailand increased a bit following the year end holidays. Airlines anticipate a surge in demand for space beginning this week.

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