Air freight rates decline marginally, six-week rally ends: TAC Index

Global air freight rates dipped slightly last week, according to the latest data from TAC Index. The overall Baltic Air Freight Index calculated by TAC was lower by -0.8 percent over the week to April 15, finally ending a run of six successive weekly gains to leave it at -12 percent over 12 months.

Rates were fairly flat from the previous week on major lanes out of China – with no sign yet of any further spike caused by rising tensions and conflict in the Middle East, the update added. "The index of outbound routes from Hong Kong eased narrowly, leaving it still ahead by 8.4 percent YoY. Outbound Shanghai gained a further 0.6 percent WoW to leave it up 6.9 percent YoY. On other lanes out of Asia, it seemed rates out of India may be finally reaching a peak after the recent major surge, and falling back from Vietnam to the U.S."

Out of Europe, rates were falling again on most major lanes. The index of outbound routes from Frankfurt declined four percent WoW to leave it at -38.6 percent YoY. Outbound London dropped 5.8 percent WoW to leave it at -51.4 percent YoY.

From the Americas, the index of outbound routes from Chicago edged up 0.8 percent WoW led by higher rates to South East Asia, leaving it at -34.4 percent YoY. Overall rates from the U.S. were falling to Europe but rising again to China, and there was another jump in rates from Miami to South America, the update added.