Air freight rates down marginally in firmer-than-usual July market
Outbound London was up +7.9% WoW with gains on most major lanes trimming the YoY fall to -21.1%
Global air freight prices eased slightly lower in the week to July 15 (down 1.1 percent), according to the latest data from TAC Index.
The index is still ahead by some +10.2 percent year-on-year in what continues to be a firmer-than-usual market for July when there is often a mid-summer lull.
"The index of outbound routes from Hong Kong was little changed with rates to Europe edging further up to leave the YoY change at +24.1 percent. Outbound Shanghai was lower by -2.9 percent WoW but still well ahead by some +32 percent YoY. Rates out of India fell back a little after recent big gains but rates out of Vietnam were on the rise again both to Europe and the U.S."
From Europe, the index of outbound routes from Frankfurt fell back by -3.6 percent WoW despite gains on rates to Asia, leaving the YoY decline at -14.5 percent. Outbound London, however, was up +7.9 percent WoW with gains on most major lanes trimming the YoY fall to -21.1 percent, the update added.
From the Americas, rates from Chicago were a tad lower, leaving the YoY decline at -29.1 percent. Overall, rates from the U.S. were down a little to Europe, China and South America.
