Airfreight rates jump 95 per cent as Iran war hits global supply chains

International airfreight rates surged by as much as 95 per cent between February and March, as reduced cargo capacity and higher fuel prices linked to the Iran war pushed prices closer to the record levels seen during the Covid-19 pandemic, according to Drewry Airfreight Insight.

In one of the sharpest moves, airfreight rates from Shanghai to Dubai jumped 95 per cent since the start of the war to $8.60 per kg, Drewry said, adding that rates could move beyond the 2020 pandemic peak of...