Airfreight prices dipped again in May, wiping out the gains made over the previous two months.
Consultant Drewry’s East-West Airfreight Price Index for May shows that airfreight prices declined to $2.57 per kg compared with $2.61 per kg in April.
The decline sees prices return to the lowest level since the consultant launched the index in May 2012 and compares with the $2.90 per kg that airlines were able to achieve during the same month last year.
However, the drop off in May shouldn’t come as too much of a surprise as the second quarter of the year tends to have the lowest prices of the year.
Prices are boosted in the first quarter by a demand spike ahead of the Chinese New Year, then begin to ease off during the second quarter before picking up later in the summer and then peaking towards the end of the year ahead of the holiday season.
Last year, prices reached their lowest level in June when they slipped to $2.85 per kg.
“Drewry expects airfreight pricing to remain under pressure through the Northern Hemisphere summer season, as more passenger aircraft are brought into service to support the peak tourist season, releasing more bellyhold capacity,” the consultant said.
Meanwhile, the TACIndex shows process on the Hong Kong-US trade lane stood at HK$18.71 per kg and prices from Hong Kong-Europe were at HK$14.86 per kg on June 13.
