Date: Feb 13 2017
Title: Air Freight Market Update Report for Week 07

Demand for space remained soft as factories have not fully ramped up production following the Lunar New Year holidays.  Space is adequate to meet demand and rates have trended down from mini peak levels in most countries.

Following are highlights from around our Asian network.

China: There are no reports of backlogs or congestion at major air freight gateways.  Air freight rates are trending down in response to soft demand following the Lunar New Year holidays.  Demand for space is expected to pick up towards the end of February as factories ramp up production.

Delhi: Last Week there was a heavy rush of cargo mainly to the Far East, US and Europe; however, there was adequate space to meet demand and no reports of congestion. The airport’s EDI system is finally operating as designed and all exit and entry bills are being generated without any trouble although at a rather slow pace.
Kolkatta: Demand for export space has increased from last week. There is adequate space to meet demand and rates remain unchanged from last week.
Bangalore/Hyderbad/Mumbai/Chennai: All report adequate space to meet demand, stable rates and no reports of congestion.

Korea: The market is very soft primarily because of because of low volumes of transit cargo coming out of China. Despite price reductions across most Asian air freight gateways, Korean carriers have held firm on pricing out of ICN. 

Sri Lanka: Export volumes have been trending upward the past two weeks. Adequate air freight capacity has helped keep pricing in check.

Thailand: Although local demand for space is soft, demand for space from other Asian origins remained high into the beginning of last week. Airlines continue to request advance booking to secure space.

Taiwan: Carriers increased airfreight rates in response to tight space to the US and Europe. Carriers are signaling they will resume applying fuel surcharges from the beginning of March 1 2017 to all regions.

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