GCTL8.com (FocusAsia Media Ltd)

ROTTERDAM, Mar 17 (FAM) – The shortage of eastbound Europe-Asia ocean freight capacity in recent weeks has led to a significant hike in air freight rates on eastbound routes from Europe to the Asia Pacific region, according to senior European forwarding sources.

Claude Picciotto, air freight procurement director for Bolloré Logistics, told Lloyd’s Loading List: “Reduction of capacity by shipping lines is causing volume to spill from sea to air transport, sending the cost of non-contracted air space up by 20% to 30%. The rate increases are mainly to Asia-Pacific, some ocean freight traffic having been switched to air freight but with no additional capacity being added by the airlines. We are facing a ‘peak’ out of Europe to Asia Pacific.”