Airfreight - how this is being impacted due to the Coronavirus
Airfreight capacity has fallen sharply during the COVID-19 pandemic and we are seeing hikes in airfreight rates across the board.
HK to Europe or USA.
Airfreight capacity in HK has been cut by up to 80%, leading to spots rates surging by 50% in the last couple of days. Severe space issues mean that there is no current guarantee of transit times.
Europe to the USA
Airfreight capacity has been slashed due to the travel restrictions, some aviation industry analysis are reporting up to 90%, due to most air freight cargo being carried under the belly of passenger aircrafts.
There is availability but be prepared to a premium, and there will be no guarantee of transit times either. Airlines have also reduced the space reservation period from 14 days to 7 days which again has impacted the air freight rates too.
UK to Australia
Very limited availability due to significant capacity reduction.
UK to Canada
Expect price increases but capacity at this time is reduced by around 20-30%.
UK to UAE
Over 90% of air freight capacity has been cut from the UK to the UAE.
UK to Hong Kong
Capacity has been significantly reduced by around 70%.
Many more countries are imposing bans, especially on flights, which will cause further volatility with air cargo rates. Our Air Freight division will have the latest up to the minute information.
The European Commission has produced a guidance document outlining key measures to keep the flow of Air cargo moving in and out of Europe, particularly for scarce goods, a move welcomed by both BIFA and CLECAT
IATA's TACT team has provided access to their data during this time and gives updates on the how the airlines are impacted.
You can also take a look at Cargo One's website where you find all the very latest airline operating status.
Your WTA contact is at your disposal to answer any questions you may have.