The disruptions in supply chains caused by the Red Sea crisis are forcing companies to increasingly seek alternative transportation options from Asia to Europe.
The data from Xeneta, a platform that tracks ocean and air tariffs, shows that airfreight volumes from Vietnam to Europe increased by 62% in the second calendar week compared to the previous one. This was 6% higher than the best reported week of 2023 (which was in October) and 16% higher than the second week of January 2023.
According to the Xeneta experts, the next two weeks will reveal whether this trend is sustainable. For now, the available air cargo capacity is sufficient for the market, but continued increase in demand for air cargo transportation could lead to a reduction in the available capacity and result in accelerated price increases.
Source: trans.info