Air cargo prices in Shanghai surges 70% to 80% since mid-August as the number of flights reduced, China Central Television said. The case is especially serious on European routes that prices climb to an average of CNY55/kg from CNY30/kg, with a reduction of about 50 flights, the Chinese media cited a local freight forwarder as saying.
The situation could last for longer than expected as it is moving into peak season for the delivery of new electronic products. Electronic, pharmaceutical, and chemical goods are mostly delivered by air.
An analyst on transportation industry also expects logistics prices will further increase as cargo trapped in Shanghai warehouses currently are released while the traditional consumption peak season in second half is coming.
The flight halt started in mid-August when new COVID-19 cases founded in Shanghai Pudong International Airport, front-line staff are also reduced. It is estimated that the number of international cargo flights have reduced by at least 30%. A few airlines have stopped the flights to and from Japan and Korea.
