Airfreight prices from China on the rise

China to Europe and North America airfreight prices are on the rise, with rates from Shanghai to those destinations up about 10 percent over the lowest point in the recent month.

China swiftly resumed production and increased its supplies to the rest of the world amid the global economic halt caused by the COVID-19 pandemic. Air cargo fares of several airlines from Japan to China are also climbing, according to a report by Nikkei on Monday.

The latest statistics from TAC index, a benchmarking tool providing market intelligence on air cargo rates, showed that the fares from Shanghai to North America were US$5.1 per kg on August17, up 13 percent from the low point in July, and twice the price before the pandemic.

The airfreight rates from China are again going up because of the resumption of economic activity, which has created more opportunities for exports.

Meanwhile, cargo is mounting in several airlines between Japan and China, especially a spike in shipments to Guangzhou, with rates rising by 50 percent.