Asia Air Freight Rate Index Turns Upward

Air freight rates for Asia outbound shipments rose 4.6 percent in January over the same month a year ago, the first year-over-year increase in Drewry’s Air Freight Price Index in 15 months.

The Drewry index also jumped 8.4 percent from December, signaling demand remained relatively solid after the late-2011 holidays as airlines kept capacity in check. The measure of 109.6 was the highest point for the index since the Drewry index reached its 2011 high of 114 in October.

But Asia’s air carriers reduced freight capacity 2.8 percent from October to December, according to the Association of Asia Pacific Airlines, generally in line with the seasonal slip in shipping demand. And some significant freighter operators have pulled out of the market, putting all-cargo capacity at a greater premium.