Airfreight rates in Bangladesh increase substantially

Stakeholders report that Dhaka’s market now heavily relies on shipments via air, leading to steep increases in rates. For instance, Bangladesh-Europe rates have spiked to $3.50 per kg, up from $2 in December, while rates to the US have surged to $4.50/kg from $3.

Freight forwarders attribute the heightened demand to various factors, including the end of the season, congestion at transit points due to the Chinese New Year holiday, and delays caused by the Red Sea crisis.

These disruptions have led to significant delays in shipping, prompting exporters to turn to air transport to meet the deadlines.

Data revealed a substantial increase in cargo airlifted through Dhaka Airport, with shipments destined for the US, Europe, Turkiye, and Egypt.

To ensure timely market delivery, garment manufacturer Tusuka, for instance, reportedly opted to airlift 386,000 pieces of apparel to the US and EU in January.

Nasir Ahmed Khan, director of the Bangladesh Freight Forwarders Association, noted that extended ocean transit times have incentivised buyers to expedite the shipment of end-of-season goods via air.

This surge in demand has also impacted freight rates from Dhaka to other destinations.

Meanwhile, vice president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Shahidullah Azim highlighted that buyers now face additional delays of two to three weeks due to ships rerouting to avoid the Red Sea crisis.

Consequently, many exporters are compelled to resort to airfreight to meet delivery deadlines.

Fibre2Fashion News Desk (DR)