News

New York -- Air freight markets throughout Asia are being hit with a range of market conditions that are fueling rates and fuel surcharges and curtailing lift availability.

Following the weeklong China Holiday celebration, the marketplace experienced a sudden surge of shipments, according to freight forwarder Trans Global Logistics. Electronics and hardgoods manufacturers in Northern Asia have had a significant impact on the market, and in Korea absorbed 70% of the lift out of Incheon Airport. Adding to the scramble for available lift, Microsoft is rumored to be making plans to move 2,700 tons of cargo by mid-November.

All Asian and Indian Subcontinent regions are reporting longer transit times. Shipments moving through the primary regional hubs of Singapore, Seoul, Tokyo and Taipei can take an extra four to five days to connect, says TGL.

In Southeast Asia and India, space availability is tight, but rates are relatively stable. Meanwhile, in Shanghai carriers are signaling another rate increase of 10% in late November and rates in Taiwan will increase 13-15%, the country’s third rate increase since September.