Drewry: Expect a price rise in February after Chinese New Year

Rates for airfreight on east-west routes averaged US$2.76 per kilogram in January, a 30-cent fall from December. Average price per kilogram has declined following the spike in November, which held the highest average price per kilogram of 2017, at $3.15.

The decline is indicative of the winter lull experienced annually by the industry and is still 2 percent higher than last year’s January rate averaged. Drewry states that temporary factory closures resulting from the Chinese New Year holiday on Feb. 16 are responsible for deflated demand, and that we can expect to see a rise in February’s results.

The Drewry price index shows a 10 percent decrease from last month to 92.8. But compared to the index value from the previous January, the index has increased by 1.5 percent, year-over-year, so it’s safe to continue with cautious optimism as we look forward into 2018.