Europe-Asia air cargo figures boom as ocean space dries up and rates rise
- Latest News
- Friday, 24 March 2017
Air cargo on Europe-Asia routes is on the rise as the ocean capacity shortage drives up freight rates.
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Carriers including IAG Cargo, Cathay Pacific and others all have reported gains, with IAG saying its volumes were up 23 per cent for January-February year-on-year.
Cathay said February loads were up 17.4 per cent year-over-year, and nine per cent for January-February.
The Global Shippers’ Forum says ocean cargo space rationing means shippers must look at options.