Due to Shanghai’s lockdown, there is a backlog of an estimated 260,000 TEU of export cargo. This backlog would take 13 mega ships (20,000+ TEU each) to clear. This backlog adds pressure for ocean carriers to take on the additional cargo, but it also impacts air cargo.
When there is a capacity constraint on the ocean freight side, customers that need their products quickly to sell or use in production will shift to air freight. This contributes to air cargo rates continuing to increase, even as it is still months away from the Christmas peak season.
1. Shanghai port congestion could pile on airfreight pressure, Air Cargo News, May 25, 2022. Accessed May 30, 2022.