Average air freight prices out of Asia fell 10.3 per cent in June from the month before as airlines brought capacity back into the market, according to the latest Drewry Air Freight Rate Index, by London-based Drewry Shipping Consultants. The June rate assessment for cargo out of Shanghai was still 54.7 per cent higher than the same month a year ago, but this was virtually the lowest point for air cargo rates last year.

The month-to-month decline left the index at its lowest point since March and comes at a time when global air cargo traffic grew by 26.5 per cent in June, year-on-year, including a 29.8 per cent increase in the Asia-Pacific region. Capacity is also inching its way upwards with the International Air Transport Association (IATA) noting that global air freight capacity grew 12.2 per cent and Asia-Pacific capacity by 20.5 per cent in June, over last year.