Forwarders and airlines are looking to start negotiations for services next year, and are figuring out how much capacity to book.

After record high demand - and prices - in 2017, forwarders were keen to lock-in capacity in advance this year, while airlines were equally keen to hold some space unblocked to capitalise on late-booked cargo when spot prices were high.

Both sides have suggested that contracted space last year fell, from about 60% to about 50% of total capacity.

"It's been a balancing act, to get the right amount of contracted space and ad hoc," said Robert van de Weg, vice president sales and marketing for Volga-Dnepr Group.