Airfreight rates from China have risen 'modestly' in the past few days, with increases in Chinese export demand ahead of the upcoming traditional Chinese New Year shutdown.

The rates are still well under levels seen in December, when heavy seasonal demand and bad weather combined to push costs from Asia to Europe to US$7 to US$10 per kilogram. They now are around US$2.65 to US$4 per kilogram.

 

According to monitor Freightos, “the (ex Asia) highs of a month earlier are behind us for now”.

 

Routes between Europe and the United States, however, face strong demand.