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Air freight rates to continue rising amid global port congestion

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Aviation

Data from Channel NewsAsia showed about 20% more local firms in Singapore are switching from sea to air freight to deliver goods amid congestion at ports worldwide, paying up to 50% more for air freight compared with the start of this year, Hellenic Shipping News Worldwide reported. Industry experts expect air freight rates to increase further. The International Air Transport Association said air cargo demand in Asia Pacific rose about 20% in the first five months of 2024, compared with the same period last year.

 

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