Air Freight Rates Nosedive, with Shippers Flocking to Ocean

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.