Asia Pacific to Europe airfreight rates climb despite volume decline
Bangladesh, Aug. 19 -- Spot rates from Asia Pacific to Europe rose 1% week-on-week during the week ending August 9, driven by a 6% jump from China and a 3% rise from Hong Kong, the region's two leading e-commerce hubs.
The gains from China and Hong Kong offset declines elsewhere in the region, led by South Korea (-6%), Singapore (-5%), Taiwan (-4%), and Japan (-4%).
The uptick in China and Hong Kong rates came despite Typhoon Dolphin disrupting operations, triggering evacuations in Shanghai and Beijing and more than 1,000 flight cancellations in Shanghai alone.
Demand was further dented by the fading effects of the European Union's decision to end its "de minimis" exemption for e-commerce imports, WorldACD said.
The EU introduced a E...
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