$SIA (C6L.SG)$ another good news for SIA ==>[Share Link: - ...

AI summary for this video==>The cost of air freight has increased by 50% compared to the beginning of this year.It used to take only about two weeks for goods to arrive in Singapore via sea freight.However,due to recent congestion at local ports,it now takes at least a month for goods to arrive.An e-commerce company that imports food products such as fruits and snacks says that cargo is no longer shipped directly and instead is being trans-shipped to avoid congestion,which leads to risks.They mentioned that sometimes they lose track of the shipment entirely.To ensure that customers receive products on time,the company has to pay S$1,000 to air freight 95kg of goods from source markets like Japan and Korea,which is five times more expensive than sea freight.Logistics providers have observed that about 20% of local companies are switching from sea freight to air freight.To cope with the increasing demand,airlines are expanding their networks.░

According to the video,the surge in air freight costs is due to a shift from sea freight to air freight to avoid delays caused by port congestion around the world.

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