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An unusual increase in air cargo on a key clothing export route Vietnam A Europe indicates that carriers are turning to this more expensive transportation alternative, as the sea route has been disrupted by attacks on ships in Red SeaAs reported Xena.
In the week ending January 14, cargo volumes from Vietnam to Europe increased 62% compared to the previous week, and tariffs increased 10%, in line with what Niall van de WouwDirector of Air Freight at the Air and Ocean Freight Rate Benchmarking Platform.
“This is the first sign, according to Xeneta data, that the Red Sea crisis is affecting air transport. “This is typically a quieter time of year for air travel, so seeing increases of this magnitude, with volumes higher than at any other time in 2023, is significant,” van de Wouw said.
The Red Sea, which flows into Suez passage, lies on the major east-west trade route from the manufacturing centers of Asia to Europe and the east coast of America. Approximately 12% of the world’s maritime traffic accesses the Egyptian route through its waters.
More manufacturers will look to transport their products by air in the coming weeks, as attacks on ships by Yemen’s Iran-aligned Houthi group force them to find alternative routes, logistics companies said.
Shipping companies have secured more space for air freight, and some customers have started shipping goods entirely or partially by air to avoid delays.
Volume shipped by air on the Vietnam-Europe route in the week ending Sunday was 6% higher than the peak week in October 2023 and 16% higher than the same week last year, van de Wouw said.
“In the next couple of weeks we should know for sure whether this represents a real and significant shift from sea to air transport due to the Red Sea crisis,” he said.
2024-01-20 00:00:52
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