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OverviewAPI
Global air cargo spot rates rose by 2% in October, with Transpacific rates from China and Southeast Asia to the U.S. increasing by 10% and 15% respectively. The uptick was driven by seasonal adjustments, reduced cargo space, and ongoing geopolitical issues. Challenges include rising operating costs, jet fuel costs, inflation, and labor shortages. Shippers seek longer-term contracts while forwarders procure a significant portion of their capacity on a short-term basis.

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