Air and ocean freight forwarder Flexport is to establish a charter schedule between China and the USA in 2018.

Flexport global head of air freight and senior vice-president Neel Shah said the company recently received US$110 million in funding, and has the financial liquidity that makes it possible to commit to developing a charter schedule. 

 

Shippers currently relying on the spot air freight market to move cargo out of Asia are being financially penalised, with Freightos Marketplace data showing Shanghai-New York air rates have risen by 70 per cent in the past few months and prices from Shanghai to Frankfurt in the past two months have doubled.