Air Cargo Rates Surge as Red Sea Crisis Pushes Freight from Ocean to Air
The ongoing disruption to ocean shipping in the Red Sea is causing a significant shift of cargo to air freight. This modal shift is driving up air cargo demand and spot rates, particularly from the Middle East and South Asia to Europe. Key hubs like Dubai are seeing a surge in volumes, with rates to Europe increasing by as much as 88% in a month. Capacity is tightening as a result, with load factors on these routes reaching very high levels. This trend is expected to intensify as the pre-Chinese New Year rush further strains the global supply chain.
Official Source: https://theloadstar.com/oceanx-middle-east-stalemate-europes-exports-the-rest-of-the-best-kn/