A sharp rise in air cargo spot rates from Europe origins, particularly to the Americas, has helped to further drive up average worldwide spot prices in the second full week of November, according to data from WorldACD Market Data.
The report found that rates to Brazil had risen especially fast in the last two weeks, which was linked to congestion problems at Sao Paulo's Guarulhos International Airport.
According to the latest weekly figures and analysis by WorldACD Market Data, average spot rates from Europe origins rose by a further 10% in week 46 (11 to 17 November), week on week, to $2.71 per kilo. It also marks a 23% increase over the same period last year.
Average spot rates ex-Asia Pacfic were flat in the week compared with the previous at $4.39 per kilo. However, it saw a 3% increase in tonnages ex-Asia Pacific, which contributed to a 4% increase over the previous week in average worldwide spot rates to $3.14 per kilo. There was also modest week on week spot rate increases from Central & South America at 4% and North America at 3%.