Global air freight rates are still rising as peak season continues, according to the latest data from TAC Index, the leading price reporting agency for air freight.
“The overall Baltic Air Freight Index rose a further 4.4 percent in the week to November 13 following a series of gains in September and October, cutting the year-on-year decline to only 26.4 percent.”
The latest rise featured sharply higher rates out of China, which was not surprising after record snowfalls in Anchorage appeared to hit capacity on Transpacific traffic – though prices from China to Europe and the U.S. were both showing double-digit-plus gains, the update added. “The index for outbound Shanghai routes increased 8.7 percent WoW, cutting its YoY fall to only 4.7 percent, led by a sharp rise to North America. Outbound Hong Kong increased further (+0.6 percent WoW) to cut its YoY decline to 17.4 percent.”
The main exception to the strong upward trend was North America with outbound Chicago declining five percent to leave its YoY decline at 43.6 percent. “Rates from North America were lower to most regions, except for Transatlantic lanes to Europe where there was a modest rise. Rates from India and Vietnam did not move much WoW after big recent gains.”