- Container shipping lines avoid the Red Sea route and prefer airways.
- Businesses are turning to air transport for Asia exports.
- Air Freight rates show fluctuations.
Container shipping lines avoiding the Red Sea due to missile threats have led to increased air cargo volumes, reports Freight Waves.
Shift to Air Transport
Businesses are turning to air transport for Asia exports to Europe and North America to avoid delays caused by the Red Sea situation.
Hybrid Sea-Air Option
A hybrid sea-air mode gains attention, offering faster transit than ocean shipping at a cost lower than pure airfreight.
Skyrocketing Shipping Prices
Red Sea attacks spike ocean freight rates, with a 282% increase in China to Europe rates since Dec. 1, affecting global box rates.
Airfreight RecoverAfter a holiday slump, airfreight volumes surged by nearly 25% week over week, with global demand up about 3% year over year.
Impact of the Red Sea Situation
Tesla, Volvo, and Suzuki suspend European vehicle production due to delivery delays, emphasizing the need for alternative transport options.
Sea-Air Alternative
A sea-air combination from China to Europe via Los Angeles emerges as a potential cost-effective and faster alternative.
2024 Outlook
Despite positive signs, uncertainties persist in the air logistics industry, influenced by global economic conditions and retailers’ purchasing behavior.
Rate Fluctuations
Airfreight rates show fluctuations, influenced by the Red Sea situation, with some routes experiencing increases and others witnessing declines.
Longer-Term Impact
The knock-on effects of the Red Sea situation are predicted to impact supply chains through midsummer, requiring time to restore normal transport networks.
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Source: Freight Waves
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