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Christmas Bonus for Air Cargo as Rates Soar Due to West Coast Port Congestion

(Alex Lennane – The Loadstar)

Costs for chartering a freighter to fly from China to the US have skyrocketed, with as much as a 100% rise in rates over the last few months.

While November lease rates for a round trip might rise, normally, to about $400,000 for a 747F, from $300,000 earlier in the year, one air cargo source familiar with the matter told The Loadstar this month prices have been “exceptionally strong, touching $600,000 in a few cases”.

UTi announced last week that it was scheduling 747 charters to Chicago from Shanghai to help shippers beat the congestion at US west coast ports in advance of the holiday season. Read more here.