October 2022 Air Market Update
By NNR USA In Insight On 13th October 2022
Tip of the Month
With peak season approaching, extend your lead times in anticipation of delays due to limited capacity.
When tendering solid wooden crates for air cargo, ensure that they have at least two ventilation holes per side at the base of each crate. This will minimize delays in the cargo screening process.
The air peak season is expected to be muted this year as retailers prepare early for the holiday shopping season. Overall, space, pricing, and transit times remain reliable and stable, with some exceptions. Residual congestion persists at major hubs.
- Fuel Surcharges continue to decrease. This could reverse if jet fuel prices continue to increase, last week was up 19.8% from the previous week.
- Monthly Promo Rates are beginning to be offered by some carriers to entice cargo to fly on less popular days.
- Air Export Tonnage increased compared to the last three months.
- Rates USA to China are still elevated.
- Chicago O’Hare wait times are still above average, but cargo handling continues to improve.
- U.S. West Coast Airports of Los Angeles, San Francisco, and Seattle continue to face delays due to cargo handling issues on both inbound and outbound freight.
- Los Angeles to Europe and Asia space and transit times are improved, except for Singapore remaining tight.
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