Air freight rates are continuing their climb

In Drewry´s latest East-West Airfreight Price Index, rates were up 1.9% in July, compared with June, and up around 1.5% against July 2016."In anticipation of a strong peak season, several forwarders have upped their capacity allocations out of Asia and have lined up charter capacity,” said Drewry. "We expect airfreight rates to further grow in August.”Transpacific eastbound was the strongest lane, up 5% year on year to $3.83, a 2% rise over June, while westbound rates were up 4%, both year on year and against June´, to $1.69.Carriers and gateways on both sides of the Pacific reported substantial growth, Cathay Pacific´s volumes up 14%, while Delta (19%) and United (17%) also saw significant upturns.Similarly, Hong Kong, Shanghai and the US´s four largest cargo gateways all recorded a double-digit bounce in throughput, with Seoul (6.7%) and Tokyo (9%) trailing.