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Airfreight Rates Soar Amid Capacity Constraints And Rising Fuel Costs

by THEFUTURE.TEAM

International airfreight rates increased across multiple routes, with some lanes rising by up to 95%, according to Drewry. The increase reflects reduced cargo capacity and higher fuel costs linked to geopolitical developments in the Middle East.

Reduced Capacity And Fuel Price Pressures

Data from Drewry Airfreight Insight show that rates from Shanghai to Dubai rose 95% to $8.60 per kilogram since the start of the conflict. Analysts said continued increases in fuel surcharges could push prices above the previous peak of $9.40 per kilogram recorded during the pandemic. Other routes also show higher costs. Fuel surcharges on shipments from Singapore to London increased by up to 290% month on month, while security surcharges from Dubai and Abu Dhabi to Amsterdam rose 44%.

Escalating Costs On Global Trade Lanes

Rate increases extend beyond individual routes. Shipments from Mumbai and Delhi to Madrid recorded an average increase of 27% over the past month, with fuel surcharges rising 21%. According to Philip Damas, reduced capacity and higher fuel costs are driving price increases across the airfreight market.

Impact On Major Airline Operations

Airline operations in the region have been affected by the conflict. Carriers including Qatar Airways, Emirates, and Etihad Airways reported reduced flight activity, limiting available cargo capacity. Nearly half of the routes monitored by Drewry recorded month-on-month price increases of 20% or more in March 2026.

Wider Market Implications And Strategic Responses

Middle East routes account for 15.6% of global airfreight traffic and 18.2% of capacity. Disruptions in the region are affecting global trade lanes, increasing transport costs for shippers.

Leveraging Data For Resilient Supply Chains

Drewry said access to rate data and surcharge trends helps companies plan logistics costs and adjust supply chain strategies. Benchmarking tools are used to track pricing changes and support freight planning decisions.

Italy And Cyprus Deepen Maritime Cooperation With Limassol Business Forum

by THEFUTURE.TEAM

Italy and Cyprus are stepping up cooperation in shipping, port development and maritime investment, with a business forum in Limassol bringing together policymakers, shipowners and industry leaders to explore new commercial opportunities.

The Italy-Cyprus Maritime Business Forum, organised by the Italian Embassy in Nicosia, will take place at 9 a.m. on Friday, October 9, at the DP World Cruise Terminal in Limassol. Discussions will focus on sustainable ports, shipping regulation and international maritime corridors, with three panels connecting public-sector priorities with private investment and industry expertise.

A Strategic Partnership For Maritime Growth

The forum aims to strengthen ties between shipowners, ship managers, shipyards, port operators, insurers and maritime service providers in the two countries, with a focus on infrastructure, technology and investment.

Shipping accounts for about 7% of Cyprus’ GDP, while the wider blue economy contributes roughly 25%, according to figures cited by the organisers. Beyond shipping, the sector includes coastal tourism, fisheries and aquaculture, making maritime development an important part of Cyprus’ broader economic strategy.

Italy offers complementary strengths in shipbuilding, maritime logistics and insurance. Its shipbuilding exports exceeded €5 billion in 2025, while Italian companies accounted for 56% of global superyacht orders by volume and 36% by value.

Together, the two countries bring different but complementary capabilities: Cyprus as an international shipping hub and Italy as a major source of industrial expertise, maritime technology and shipbuilding capacity.

From Maritime Links To Commercial Opportunities

Italian ambassador to Cyprus Antonella Cavallari said the two countries should use their longstanding maritime ties to build a broader economic partnership.

“The sea has always connected Italy and Cyprus, and today it can become the engine of an even more ambitious economic partnership,” she said.

Cavallari said the forum is intended to turn this potential into practical projects, including partnerships between companies, ports and port cities, while exploring future trade routes such as the India-Middle East-Europe Economic Corridor (IMEC).

Focus On Sustainable Ports And Shipping

The opening panel will examine how ports can support economic development while meeting European environmental requirements and integrating more effectively with surrounding cities.

A second session will focus on shipping management, regulatory compliance, maritime safety and industry best practices, bringing together representatives from shipowners, ship management companies, the Cyprus Shipping Chamber and DP World Limassol.

The final panel will turn to international maritime cooperation and investment in ports and terminals, with particular attention to emerging shipping corridors and IMEC.

Cyprus’ Role In IMEC

Cyprus’ position within the proposed India-Middle East-Europe Economic Corridor will be among the key topics of the final discussion. The initiative aims to improve connectivity between India, the Middle East and Europe and could create new opportunities for ports and logistics hubs across the region.

Rona Panteli, Cyprus’ IMEC representative and head of the Connectivity Unit at the Foreign Ministry, will join the discussion alongside representatives of the Port System Authority of the Eastern Adriatic Sea, Cyprus Ports Authority, Invest Cyprus and the Italian-Cypriot Chamber of Commerce.

Building A Broader Maritime Ecosystem

Beyond the formal panels, the forum is designed to connect Italian and Cypriot businesses and encourage partnerships across shipping, logistics and maritime services.

The event is organised with the Italian Trade Agency (ICE), the Italian-Cypriot Chamber of Commerce, the Cyprus Chamber of Commerce and Industry (Keve), the Cyprus Shipping Chamber (CSC), Invest Cyprus, the Limassol Chamber of Commerce and Industry (Evel) and the Cyprus-Italy Business Association.

DP World and Limassol Municipality are supporting the event, which is being held under the auspices of the Shipping Deputy Ministry.

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