Rates for airfreight services from Hong Kong to Europe and North America have surpassed last year's levels, driven by booming e-commerce demand. In April, average all-in rates from Hong Kong to North America rose by 6.5% year-on-year to $5.54 per kg, while rates to Europe increased by 12% to $4.47 per kg. This is the first simultaneous increase since July 2022.DHL Global Forwarding noted a surge in e-commerce demand, particularly in fashion and consumer goods. Kathy Liu of Dimerco Express Group highlighted a 50% increase in air capacity demand, driven by e-commerce and e-cigarette industries in China. E-commerce giants like Temu and Shein are flying goods from production to consumers, contrasting with Amazon's use of container shipping and warehousing. Temu is exploring sea/air routes via Taiwan, Japan, and Korea to the US, leading to higher rates than from mainland China.
Asian demand increased by 13% year-on-year between April 8 and April 21, partly due to the Red Sea shipping crisis. Rates from Hong Kong and Shanghai increased by 11.8% and 12.0% year-on-year, respectively, while rates from Vietnam fell slightly and rates from India remained stable.
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