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- March 22, 2017 /
- by Beth Peterson /
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By Alex Lennane
Air freight rates are soaring out of Asia to Europe and the US west coast, with Bangladesh to Europe seeing particularly high demand, forwarders have told The Loadstar.
Tight capacity, plus shippers looking to meet end-of-quarter numbers, are said to be behind the market growth.
The ready-made garment sector has increased demand, with Inditex alone thought to be moving between 300 and 500 tonnes a week out of Bangladesh, mostly on charters, but also looking for excess capacity on scheduled carriers.
The rise, coupled with higher volumes out of India, is leading to delays in Dhaka, and congestion in the Gulf hubs, according to local sources.
Transit times out of Dhaka have gone up by two to three days as freight waits two days to board aircraft.