Forwarders say transpacific air freight rates are artificially low ahead of Chinese New Year, with Freightos showing China-US rates at US$6-US$7 per kg - but expected to rise.

During December, prices more than doubled on some routes, with shipments between Asia and Europe increasing to a rate of between US$7 and US$10 per kilogram. Typical increases related to peak-season operations were compounded by weather events that caused airport disruptions in the United States and Europe. 

 

Chief executive of Freightos WebCargo Manel Galindo said: "I next predict prices to jump to US$10-$12 per kg as we get closer to Chinese New Year, with urgent shipments facing prices in the US$10-$17 bracket.”