Global airfreight rates have remained broadly stable but significant differences persist between key trade routes, The Air Cargo (TAC) Index shows in its latest findings.
Despite the reported stability, the price reporting agency’s (PRA) Baltic Air Freight Index, recorded a 1.9% decline year-on-year, with a marginal 0.4% drop on the week.
On the busiest corridors from China to the United States and Europe, the index for outbound rates from Hong Kong – which captures both spot and contract pricing – was reported to be 6.7% lower year-on-year, although it edged 0.3% higher compared with the previous week, Air Cargo News reports.
Rates from Shanghai showed a similar trend, falling 3.7% over 12 months, but ticking up slightly by 0.2% on the week, the PRA said.
Elsewhere in Asia, outbound rates from Vietnam were rising on services to Europe but showed a decline on routes to the US. Conversely, Indian airfreight rates were climbing to the US, while softening towards Europe.
Out of Europe, freight rates from Frankfurt were reported to be 14.2% higher year-on-year, with a 4.0% weekly increase. In contrast, outbound rates from London gave up a substantial portion of recent gains, falling 16.4% week-on-week, though they still remained 17.7% above levels seen a year earlier.
In June, airfreight prices on key lanes out of Hong Kong declined only slightly, reflecting the seasonal slowdown typical of the summer months, and occurring despite continued conflict in the Middle East.
TAC Index compiles its indices by aggregating actual transactional data submitted by freight forwarders and airlines, employing proprietary algorithms to generate representative general cargo pricing benchmarks.
