Air freight rates have recently risen sharply in the run-up to the Lunar New Year. This period is synonymous with festivities and family reunions, impacting logistics and manufacturing operations across Asia.
At the same time, geopolitical turmoil, notably in the Red Sea, adds complexity to the forecasts for 2024. These events could have encouraged a shift from sea freight to air freight, adding further pressure on rates. 🌍
Demand for air freight is also showing an upward trend, with global tonnages significantly higher than in the same period last year.
The impacts of these dynamics on global supply chains are to be watched closely, especially with ongoing geopolitical uncertainties.
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