Transpacific air freight rates are surging again, with prices up more than 8% in the past week.
China to the US saw rates rise 8.6% to $5.16, while Hong Kong to the US jumped 9% to $5.35, according to the latest TAC Index figures.
Forwarders have reported, however, that the rates tend to be even higher than the index records.
Freight Investor Services (FIS) said rising rates were encouraging carriers to continue to trade in the spot market, rather than opt for longer-term contracts.
“A boost in ex-Asia Pacific prices, perhaps the last thing shippers will want in this market, lifts the curve upwards,” it said.
“We would see that this could create a bit of persistence on the carrier side of the market in holding onto spot pricing, creating a bit of instability in forecasting considering the lack of more than month-long fixed-price contracts.”
For the full story, please click HERE
Source: The Load Star