Date: Feb 27 2017
Title: Air Freight Market Update Report for Week 09


There has been an uptick in demand for space from Greater China regions to US and European air freight gateways. This trend is expected to continue to build through the end of March. A number of carriers have either imposed or announced rate increases and will continue to do so during March if demand for space is sustained.

Following are highlights from around our Asian network.

Bangladesh: QR cancelled two freighters on 2/22 and 2/24 causing a backlog of 200 tons of cargo.  The backlog should be cleared this week. 

China

Shanghai: Demand for space to the US and Europe began to heat up last week.  Carriers increased rates last weekend by approximately $1.00/kg. Global companies have large volumes of cargo booked this week which suggests further rate increases will be forthcoming.

Shenzhen & Guangzhou: There is adequate space to meet demand and no change in rates.

Xiamen: Air market remains relatively inactive and there is sufficient space to meet demand. Air carriers are anticipating demand to pick up in March and have signaled that they will impose price increases on March 6th. 

Hong Kong: Market situation remains unchanged from last week – adequate space, stable rates and normal transit times.

India: Major air freight gateways report no backlogs, adequate space to meet demand and consistent transit times. 

Taiwan: Strong demand for space has created tight market conditions and enabled air carriers to impose rate increases to the US and Europe. Carriers indicated that they will reinstitute fuel surcharges around the beginning of March to all regions.

Thailand: Demand for export space from Thailand increased a bit due to normal month end shipping patterns. No reports of congestion although airlines are requesting advance bookings.

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