Drewry's new Airfreight Price Index has found that average airfreight rates across westbound Asia-North America and westbound Asia-Europe trades have dropped to their lowest levels for nearly three years.
According to Lloyd's Loading List, the monthly Index outlined that the trend was being driven by the 'deteriorating macroeconomic environment', which was in turn causing lower demand.
For June, the Index was down 18 per cent on the same month of 2011, reaching its lowest point since August 2009, Drewry reported.
The group said that it expected airfreight rates to remain weak for the remainder of the year, but it expected some recovery in the fourth quarter.
