SWISSCARGO TO RAISE AIR-FREIGHT RATES 10%
Swisscargo said it will raise its air freight rates in September by an
average of 10 percent. The increases will vary by region.
The Zurich-based airline said the increase is needed to meet worldwide
shortages in capacity expected for the last quarter of this year.
"In addition to the traditional end-quarter shipping peaks in certain
industries such as electronics and semi-conductors … we expect many
companies to try to optimize their stock situation before the millennium,"
said Peter Somgalia, executive vice president of marketing and sales for
Swisscargo.
Somgalia said some shippers are telling forwarders not to have any
shipments in transit over the holidays, which will shift cargo from sea to
air.