Global airfreight rates edged slightly lower again last week according to the latest data from TAC Index, the air freight market’s leading price reporting agency. The overall Baltic Air Freight Index (BAI00) calculated by TAC edged down -0.7% in the week to 27 January, leaving it ahead by +8.7% YoY – with the market still relatively firm following a modest uptick on the busiest lanes out of China in the runup to Chinese New Year.
Rates out of China were up both to Europe and to the US. The index of outbound routes from Hong Kong (BAI30) edged up by +0.8%WoW to leave it ahead by +8.4% YoY. Outbound Shanghai (BAI80) gained some +4.8% WoW, leaving it also up YoY by +8.4%. Elsewhere out of Asia, in dollar terms rates to Europe were up out of Bangkok and out of Seoul and slightly ahead again out of India, but lower from Vietnam – while rates to the US were little changed WoW.
Out of Europe, rates were mostly lower including on lanes to China and to Japan as well as overall on Transatlantic routes to the US. The index of outbound routes from Frankfurt (BAI20) shed -7.0% WoW following big recent gains, leaving it still well up by +24.6% YoY, with rates to the US still rising. Outbound London (BAI40) gained +4.0%WoW, also led by higher prices to North America, leaving it up by +11.3% YoY.
From the Americas, the often volatile index of outbound routes from Chicago (BAI50) fell steeply by -20.8% WoW after some big recent gains, pulling it back into negative territory by -4.5% YoY. Overall rates from the US were falling on lanes to China and also slightly lower to Europe, but rising again to South America.
