Limited Air Freight Capacity
China and Europe still have critically limited available capacity due to prevailing market conditions including the Zero COVID policy in China and the ongoing war in the Ukraine. Shanghai Airport remains essentially closed given the current lockdown situation with no end date planned.
Expect critically limited available capacity, especially from all other Asia gateways including, Hong Kong, Kuala Lumpur, Seoul, Singapore, Taipei and Dubai in the Middle East to continue into the summer shipping season. Rates are expected to remain high on fuel costs and capacity related restrictions assuming continued strong consumer demand.
European Gateways will remain under pressure due to the conflict in the Ukraine. Expect cargo delays on transcontinental routes moving via European Gateways as airlines must re-route flights around restricted airspace until further notice.