TRANSPACIFIC air freight rates into the US have begun to drop as the market softens before the holiday week, reports London's Loadstar.
TAC Index figures from China to the US are down 8.7 per cent to $13.82 in the week to December 20.
The Baltic Air Freight Index showed a rise of 44.5 per cent, year on year, and rates out of Shanghai up 62.4 per cent in 2021.
The year has seen some exceptionally high prices, with one forwarder stating that a single charter from China to the US had cost north of US$3 million.
Meanwhile, the rise in Covid cases in Europe has led to a new rush for Covid test kits and other Covid crisis-fighting equipment.
Lockdowns in Europe could increase consumer spending on goods, suggesting rates will remain elevated.
"The supply chain will remain very, very difficult, in particular in ocean," said a senior forwarder.
"I don't see us getting out of that mess soon," said the forwarder. "And air freight will also remain difficult."
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