Global air freight prices continue to maintain a firm pattern across most major routes, according to the latest data from TAC Index, the leading price reporting agency (PRA) on air freight.
The overall Baltic Air Freight Index calculated by TAC was down only a tad (-0.2 percent) in the week to June 24, leaving it ahead by 9.2 percent over 12 months – boosted by continued strong e-commerce activity and shippers switching from sea to air cargo to avoid disruption and higher costs in ocean shipping, the update added.
The index of outbound routes from Hong Kong was lower by -1.6 percent WoW but still ahead by +17 percent YoY. Outbound Shanghai was also slightly down but still ahead by some +36 percent YoY – though overall rates from China to Europe were still rising. “Rates out of India fell back a little after huge gains earlier this year but out of Vietnam were rising sharply again both to Europe and to the U.S.”
Out of Europe, rates were little changed. “The index of outbound routes from Frankfurt slipped a little after a big gain the previous week leaving the YoY decline at -22.1 percent. Outbound London was also off, leaving the YoY fall at -30.1 percent.”
Rates from Chicago maintained their volatile week-to-week pattern with a jump of +8.4 percent, helping cut the YoY decline to only -9.5 percent. Overall, rates from the U.S. were rising to both Europe and to China but a bit lower to South America, the update added.