Global air cargo rates show mixed trends: TAC Index
Rates out of China were up both to Europe and to the U.S. but declined sharply (-20.8%) from Chicago.
Global air freight rates edged slightly lower again during the week to January 27, according to the latest data from TAC Index.
"The overall Baltic Air Freight Index calculated by TAC edged down -0.7 percent, leaving it ahead by +8.7 percent 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 U.S, the update added. "The index of outbound routes from Hong Kong edged up by +0.8 percent WoW to leave it ahead by +8.4 percent YoY. Outbound Shanghai gained +4.8 percent WoW, leaving it up YoY by +8.4 percent. 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 U.S. 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 U.S. The index of outbound routes from Frankfurt declined seven percent WoW following big recent gains, leaving it still well up by +24.6 percent YoY. Outbound London gained four percent WoW, led by higher prices to North America, leaving it up by +11.3 percent YoY.
From the Americas, the often volatile index of outbound routes from Chicago fell steeply by -20.8 percent WoW after some big recent gains, pulling it back into negative territory by -4.5 percent YoY. Overall rates from the U.S. were falling on lanes to China but rising again to South America, the update added.
