WSJ Logistics Report: Soaring Airfreight Prices Force Shift to Slower Ocean Transport

A dramatic squeeze in airfreight capacity is pushing companies around the world to choose between sky-high shipping costs and exceptionally long delivery timelines.

Postal services and even perishables exporters in Australia are among those turning to slower ocean transport services, the WSJ’s Mike Cherney and Lucy Craymer report, as they cope with coronavirus-driven upheaval in demand for goods and in transportation supply.

The withdrawal of thousands of passenger flights left overall global airfreight capacity down 25% from a year ago, even after freighter operations accelerated to make up for lost passenger-plane space. That has sent air-cargo prices rocketing higher in markets where supply and demand have been thrown out of balance.

Source: Logistics Report and News – Wall Street Journal