How will shifts in the global economy wreak havoc on your air freight?
Buckle your seatbelts because we are off to a bumpy ride in the air freight market! A turbulent 2022 for the global air freight market eased at the end of the year, but we are not out of the woods yet. With inflation rates elevated and consumer demand stagnant, the air freight market continues to weaken. By mid-Jan, rates were down –14% YoY, thanks to the bounce-back of cargo capacity from belly hold on passenger flights.
But compared to pre-pandemic, air freight rates are highly elevated (+72% vs. 2019) due to higher operating costs from labor and doubled jet fuel prices. How can you capitalize in this weak market? Are you optimally balancing rates and service levels from airlines?
Watch Xeneta air market analysts in the February State of the Air Freight Market webinar as they discuss:
- Which lanes are experiencing the most disruptions + impact on rates
- Demand to supply ratio - is it still in the negative?
- Spot & long-term freight rates on top global trade lanes
- Spotlight on Transatlantic market & lanes