Cathay Pacific Cargo reports that the market is approaching the "peak of the peak", despite the impact of extreme weather on cargo operations.
Cathay Pacific's head of cargo for South East Asia, Ashish Kapur, said the most notable peaks were outside Hong Kong, mainly from e-commerce exports from the Greater Bay Area.
Meanwhile, the cherry harvest season is underway in South America.
Kapur said:Â "In Southeast Asia, the peaks are less pronounced, but there is no doubt that there has been a surge and recovery in intra-Asia loads."
"This will be the focus of our Southeast Asia business in the near future. At the beginning of this year, we were interested in the 'China+1' concept, but with the Vietnam market becoming saturated, the market is now talking about 'China+3'.
In addition to Vietnam, Indonesia and Thailand have also seen significant changes.
"This is reflected in the growth we are seeing in the volume of exports of parts and accessories - particularly in consumer electronics - to mainland China for final assembly in centres such as Zhengzhou."
Meanwhile, airline operations have been affected by the recent snowstorm near Anchorage's main air cargo centre.
The Alaskan city is set to experience the biggest snowfall of November, with more than 95cm falling so far this month.
The biggest snowstorms occurred on Wednesday and Thursday last week, but more have arrived this week, with a city-wide snowfall emergency expected to last until Friday.
Kapoor said:- "Our cargo ships are leaving our centres with full loads. However, some companies have been affected by the disruption. Across the network, we've cancelled more flights due to the extreme weather we've had over the past month with the snowstorm in Anchorage."
TAC Index said last week's snowstorm and flight cancellations pushed up rates in China.
The Shanghai outbound index "jumped" 8.7 per cent from last week, while the North American index "rose sharply".
In a market summary, the TAC Index said: "The recent rise reflects a significant increase in outbound rates from China, which is unsurprising as record snowfall in Anchorage appears to have impacted capacity on the trans-Pacific routes - although rates from China to Europe and the US have all posted double-digit-plus increases."
Elsewhere, Kapoor reports that the carrier is also facing a shortage of aircraft spares.
"Our preventive maintenance programme remains in effect as we try to address the shortage of all-aircraft spares," says Kapoor.
"Some planned cancellations are still needed to create more certainty in the schedule."