FIS calls air cargo a "positive momentum" for Europe
According to the UK analyst Freight Investor Services, both spot and forward air cargo markets are showing some significant movement on the entry into Q4/2019. China to Europe continues its run by gaining USD 0.10 over last week.
This is bolstered by the continuing climb of Shanghai to Europe (up USD 0.08) and a resurgent Hong Kong to Europe rate, climbing out of its slack trend by gaining USD 0.13 in one week. China to US remains lacklustre, gaining USD 0.01. However, this is weighted against a further volume and price shift on an almost 1-to-1 basis between Shanghai and Hong Kong.
Both forward curves price in the level of uncertainty over Q4 and 2020, with the China to US market dramatically losing USD 0.20 on the front month. China to Europe however gains USD 0.02, lifting the curve in line with positive market movement. (ah)