Date: Apr 24 2017
Title: Air Freight Market Update Report for Week 17


Demand for space out of Asian gateways is relatively strong in advance of the Labor Day holiday on May 1st. Airfreight stations across India, Southeast Asia, Taiwan and Korea all report that available cargo space is tight and that rates remain relatively high for this time of year.

Following are highlights from around our Asian network.

China

Shanghai: No reports of backlogs and rates are unchanged from last week. Demand is relatively strong although there is sufficient space. 
Guangzhou/Shenzhen: Available cargo space is getting a little tight to the US and advance booking is required.
Xiamen: There is no backlog or reports of congestion. Cargo space is anticipated to become tight starting next week in advance of the May 1st Labor Day Holiday. Carriers require booking cargo 2 - 3 days in advance. 
Hong Kong: Market demand has picked up following the Easter holidays. Cargo space to the US West coast is especially tight.

India
Delhi: Rates to US gateways have gone up another 15%. The airport has experienced a slight surge of export cargo
Kalkutta: Demand for space remains strong; consequently rates are higher than last week. All Airlines are reporting departure delays of 3 - 4 days to US gateways.
Bangalore: Although there is adequate space to meet demand, rates remain high and carriers are only accepting cargo against advance booking and subject to onboard confirmation.
Mumbai: Market conditions are similar to last week: Available space is very tight to all regions including the Gulf States, Europe, and the US.  Advance booking is required to get an off-loading (carting) order from airlines. A number of airlines are reporting backlogs and transit times are running longer than normal. 
Chennai: Available cargo space remains tight and delays persist to US and European gateways.

Most carriers have either increased rates or restricted accepting cargo from shippers paying Express rates. 

Indonesia: Major carriers are reporting more demand for space than what is available.  Rates to the US are up from last week and advance booking is required. 

Korea: Transit cargo volumes remain strong via ICN causing space allocations for indigenous cargo to be tight. Carriers backed off an announced rate increase planned for this week following imposition of higher FSC surcharges on April 17th.

Taiwan: Strong demand enabled carriers to increase airfreight rates to US and European gateways. Space to those regions remains tight.

Thailand: Volumes of air export cargo from Thailand to European and US gateways increased a bit due to the approach of the month end period. Airlines are reporting that transit hubs such as SYD, MEL, TPE continue to have delays in moving cargo to connecting flights to the US.

Vietnam: The market situation continues to reflect strong demand for space, especially to the US East and West Coasts. Transit times to the US are running more than seven days.

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