Global air freight rates ease 1.1% as peak season demand remains strong

Global air freight rates eased by 1.1% in the seven days to November 2, 2026, but remained 22.8% higher year on year, according to the latest data from TAC Index. Rates continued to stay above the highest levels recorded during the previous two peak seasons, supported by high jet fuel prices and strong demand, with several weeks of the traditional peak period still remaining.

The global Baltic Air Freight Index (BAI00) recorded a 1.1% decline over the week. However, rates remained significantly higher than a year earlier.

On major outbound lanes from China, rates fell slightly week on week to Europe, where volumes and rates have been affected since the end of the previous de minimis exemption for small parcels into the European Union in July. However, rates continued to rise strongly on Transpacific routes to the US.

Spot rates from Hong Kong increased over the week. The full index of outbound routes from Hong Kong (BAI30), which reflects both spot and forward rates, rose by 0.7% week on week to stand 28% higher year on year. Outbound rates from Shanghai (BAI80) increased by 2.8% over the week and were 14.4% higher than a year earlier.

Elsewhere in East Asia, rates from Taiwan recorded further weekly gains. Rates from Seoul increased to Europe but declined slightly to the US, although both routes remained significantly higher year on year. Rates from Japan to Europe also fell slightly over the week but remained well above year-ago levels.

In Southeast Asia, rates from Bangkok increased week on week, while Vietnam recorded slight overall declines. From South Asia, rates from India firmed slightly to both Europe and the US, taking year-on-year gains to around 80%.

From Europe, rates declined week on week following recent increases on major Transatlantic routes to the US and routes to the UAE. However, most other major lanes recorded gains, including those to China, Japan, India, Mexico, Brazil, Australia and South Africa.

The outbound Frankfurt index (BAI20) fell by 6.5% week on week following recent increases, but remained 25.7% higher year on year. The more volatile outbound London Heathrow index (BAI40) dropped by 23.2% over the week, with steep declines on routes to North America accounting for much of the fall. Despite this, the index remained 34.4% higher than a year earlier.

From North America, rates to Europe and the UK recorded further weekly gains, while other major routes showed a mixed trend. Rates to China and South America declined. The outbound Chicago index (BAI50) fell by 4.2% week on week but remained 17.9% higher year on year.

Rates from Mexico to Europe also declined over the week, although they remained significantly higher than the same period last year.