What may have gone unnoticed in the ocean freight market is that the Trans
Pacific eastbound air freight rates have quietly rebounded by 9% since hitting
the low in April. The same airfreight price index and SCFI USWC index shares 87%
correlation going back to the inception of SCFI in 2009. The diversion like what
we have just seen is rare.
Relative to ocean freight, air freight tends to carry cargo more time sensitive
and of higher value. The rebound in air freight price may be due to a number