Airfreight rates out of China to leading international destinations have fallen 30% since their December 13 peak of $15.13 per kilogram.
According to air cargo tracker, TAC Index, that rate to the United States was at an all-time high but has since sharply decreased to $10.68.
China-Europe rates, in comparison, are down 17% to $7.34 p/kg since reaching a festive season peak of $8.82 on December 27.
Assessments thus far are that rates will most likely flatten as the supply chain picks up momentum.
With indications that port-side constraints and concomitant containerisation shortfalls will continue to put pressure on efficient flows, expectations are that a likely airfreight rate rise is again on the cards.
Speaking to British supply chain portal The Loadstar, Bruce Chan of investment bank Stifel said congestion on the sea-side was likely to result in rising rates for air cargo.
“We expect little change in the situation for the new year.
“Ocean freight and port terminal congestion show few signs of amelioration, and US road and rail infrastructure are contending with their own issues.”
The global logistics analyst added that “airfreight is still the only option to address supply chain delays and shortages that must be addressed”.