Global air freight rates rising again: TAC Index
Rates out of China were increasing on lanes to Europe & North America, leaving them at similar levels to 12 months ago.
Global air freight rates are rising again, according to the latest data from TAC Index.
"The global Baltic Air Freight Index calculated by TAC was up +2.3 percent over the week to March 17, leaving it ahead by +4.3 percent over the past 12 months. Sources said rates were generally being pulled up by rising spot prices, particularly on Transpacific routes."
Rates out of China were rising in the last week on lanes to Europe and North America, leaving them at similar levels to 12 months ago, the update added. "The index of outbound routes from Hong Kong was up +1.2 percent WoW but higher on nearly all major lanes, leaving it up by some +7.9 percent YoY.
"Outbound Shanghai surged +seven percent WoW, though leaving it only up +1.1 percent YoY. Elsewhere from Asia, rates were more mixed with falls on lanes to Europe from Vietnam, Bangkok and Seoul and gains on lanes from India to Europe and the U.S. as well as from Vietnam to the U.S."
From Europe, rates were generally higher overall, including on lanes to China and Japan as well as to the U.S. "The index of outbound routes from Frankfurt – the biggest airport in Europe by cargo volume – however fell -7.8 percent WoW, dragged down by lower rates to South East Asia, pulling that index back into negative territory at -4.1 percent YoY. Outbound London Heathrow reflected the overall rising trend with a gain of +11.2 percent WoW, pulling it up to a gain of + six percent YoY."
