Rates react to current demand trends, with a significant bounce in rates into Europe conflicting with a drop in rates into North America, at a point where rates have historically been their lowest. The market is already representing significant unpredictability however remains within the limits of the China-Europe forward curve. The market reflects carrier sentiment and long-term demand predictions with continuing pressure from a lack of demand ex. Asia to North America in conjunction with ongoing trade conflict.

Core Air Routes (AGRs)

Airfreight Route (AR)
Description PREVIOUS USD/KG CHANGE
AGR 1
Average of Hong Kong (HKG) to Los Angeles (LAX) & Chicago (ORD) & New York (JFK) 3.726 3.45 -7.41%
AGR 2
Average of Hong Kong (HKG) to London (LHR) & Frankfurt (FRA) & Amsterdam (AMS) 2.77 2.626 -5.19%
AGR 3
Average of Hong Kong (HKG) to Singapore (SIN) & Bangkok (BKK) & Shanghai (PVG) 1.123 1.13 0.62%
AGR 4
Average of Shanghai (PVG) to Amsterdam (AMS) & Frankfurt (FRA) & London (LHR) 2.9 2.696 -7.03%

Trade Lanes

TRADE LANE AGGREGATE
USD/KG CHANGE CHANGE % MTD
CHINA - EUR
2.75 0.09 3.38% 2.80
CHINA - USA
3.42 -0.11 -3.12% 3.65
BLENDED ROUTES
USD/KG CHANGE
PVG/EUR
2.90USD -0.06 (-2.03%)
HKG/EUR
2.59USD +0.24 (+10.2%)
PVG/US
3.55USD -0.18 (-4.83%)
HKG/US
3.29USD -0.03 (-0.904%)

The Forward Curve

China-Europe markets remain in line with forward curve predictions hence the lack of change, however please look out for an updated market report inclusive of a China-US forward curve next week.