Global air cargo rates decline 4%, China rates down to Europe, US
The index of outbound routes from Frankfurt plunged -15% after some big recent gains, though still ahead by +9.2% YoY.
Global air freight rates fell last week, according to the latest data from TAC Index.
"The global Baltic Air Freight Index calculated by TAC was lower by some -4.1 percent in the week to February 24 - though despite ongoing fears about the impact of new tariffs and potential trade wars, it is still well ahead by some +14.8 percent from one year ago. This leaves air freight rates still looking comparatively much healthier than container shipping rates, which have seen some big recent falls," says the latest update.
Rates out of China were down during the week, both to Europe and to the U.S., the update added. "Sources said spot rates were continuing to trend lower but the index of outbound routes from Hong Kong was lower by only -1.4 percent WoW, and still ahead by a healthy +19.5 per YoY. Outbound Shanghai was also lower by -3.7 percent WoW, but still well ahead by +19.5 percent YoY. Elsewhere from Asia, rates out of India were lower both to Europe and to the U.S. Outbound Vietnam rates to the U.S. were also lower, but higher again to Europe."
Out of Europe, overall rates were rising both to China and to the U.S., though a little lower to Japan. The index of outbound routes from Frankfurt plunged -15 percent after some big recent gains, though still ahead by +9.2 percent YoY. Outbound London Heathrow gained +5.2 percent WoW, leaving it at a gain of +8.2 percent YoY.
From the Americas, the index of outbound routes from Chicago was lower by -4.6 percent WoW, though still narrowly up YoY by two percent. Overall rates from the U.S. were falling to all major destinations, including to Europe and China as well as to South America, though mostly still in positive territory YoY, the update added.
