FIS Air Freight Update March 25, 2020

Note this forward curve is an amalgamation of indicative and traded Air Freight Forward Agreements, allowing counter-parties to establish potential trading positions and for market information purposes. The forward curve is not an outright projection of airfreight price however provides a view into market sentiment.

India is put on lockdown, putting approximately 1/4 of the world's population under quarantine measures. Capacity is being driven into the market by passenger carriers eager to book expensive cargoes, however global equities are already plotting a recovery from a previous crash. The Trump administration in the US have provided an arguable optimistic return to business target of mid-April.

There has been relatively little change since the explosive growth of prices over the previous two weeks, signalling that we may have reached the peak in prices along both APAC routes. Transatlantic remains highly unstable in terms of price. 

Trading Interest

• China to USA last CAL 20 last offered at $3.40
  
• China to Europe Q2 20 last bid at $2.65