Strait of Hormuz Tensions Sustain Pressure on Air Cargo Rates
Geopolitical instability in the Strait of Hormuz is keeping air cargo rates firm, continuing a trend driven by disruptions to ocean freight in the Red Sea. Shippers are increasingly opting for sea-air solutions to bypass maritime risks, transferring cargo from vessels to aircraft in hubs like Dubai. This shift is causing a notable increase in air freight spot rates, particularly on routes from the Middle East and South Asia to Europe. Despite otherwise weak global demand, this dynamic is creating upward pressure on prices. Analysts warn that any further escalation in the region could exacerbate the situation, pushing rates even higher.
Official Source: https://aircargoweek.com/hormuz-tension-keeps-pressure-on-rates/
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