Slowing demand for PPE products has helped to cool off soaring air cargo rates out of China and Hong Kong.
At the same time, airlines are expected to ‘retire’ some of the passenger flights flown solely to move air cargo.
Average air cargo rates last week continued to fall.
- Average rates from Shanghai to North America were $5.80 per kg, down 23.9% week-on-week.
- From Hong Kong to North American rates were $6.08 per kg., down 9.7% week-on-week.
- While prices continue to fall, they are still far above this time last year when carriers were able to achieve $3.11 per kg from Shanghai and $3.69 per kg from Hong Kong.
- Average prices from Shanghai to Europe were $7.03 per kg, down 18.7% week-on-week.
- From Hong Kong to Europe, prices fell to $4.60 per kg, down 23.7%.
