Trans-Pacific Freight Prices to Spike

Shippers and freight forwarders will see double-digit price increases as lift is reduced ahead of holidays

Air freight capacity on the trans-Pacific eastbound trades has tightened quickly and dramatically according to this article in DC Velocity, sending spot market rates out of Asia soaring and putting pressure on shippers and freight forwarding and logistics companies to procure ample, reliable, and affordable air lift heading into the holiday shipping season.

Analysts point out that seasonal demand for space has been rising, amplified by the fact that the late Thanksgiving Day holiday this year means six fewer shopping days between Thanksgiving and Christmas than a year ago, the shortest shopping period in 11 years. This has forced shippers who had not planned sufficiently ahead to move goods by sea to shift deliveries to air in order to make their delivery commitments. To read more, click HERE.