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Air cargo rates dropped for the third consecutive month in November as demand slows and shippers flock to an improved ocean landscape, according to a December 7 update from Xeneta’s Clive Data Services.
In November, rates on the China-North America trade lane fell more than 40% YoY, Freightos reported last week. Spot rates on the general TransPacific lane were down 32% YoY, though still higher than pre-pandemic levels, according to Clive.
Despite hopes for a late peak season boost, demand fell 2% in November compared with October, with volumes declining for the ninth consecutive month, according to Clive.
Read more in an article from Supply Chain Dive.