Freight News

March Airfreight Rates Nearly Double, Drewry

[ April 1, 2026   //   Gary Burrows ]

International airfreight rates surged in March, with some routes rising as much as 95 percent, as reduced capacity and higher fuel costs tied to the Iran conflict pushed prices toward pandemic-era highs, according to Drewry.

Rates from Shanghai to Dubai climbed 95 percent since the start of the war to US$8.60 per kilogram, Drewry said. Prices could exceed the 2020 peak of US$9.40 if fuel surcharges continue to rise.

Cost pressures intensified across key lanes. Fuel surcharges rose as much as 290 percent month over month in March on shipments from Singapore to London, while security surcharges increased 44 percent on routes from Dubai and Abu Dhabi to Amsterdam.

Other corridors saw more moderate gains. Rates from Mumbai and Delhi to Madrid rose an average 27 percent month over month, including a 21 percent increase in fuel surcharges.

“The airfreight market has been dealt a two-fold blow of reduced effective available capacity and increased fuel costs,” said Philip Damas, head of Drewry’s logistics practice.

Capacity constraints have been compounded by disruptions to major carriers operating through the Middle East. Three of the world’s top 20 airfreight airlines — Qatar Airways, Emirates and Etihad Airways — have reduced flight operations to varying degrees due to hostilities, Drewry said.

Overall, about half of the international routes tracked by Drewry recorded month over month price increases of 20 percent or more in March.

Airfreight lanes linked to the Middle East account for 15.6 percent of global traffic and 18.2 percent of capacity, meaning disruptions are rippling beyond the region and affecting broader trade flows.

Drewry said shippers face rising transportation costs and should closely monitor rate data and surcharges to manage spending as volatility persists.