Airfreight rates on key trade lanes remain same: TAC Index

According to the latest figures from the Baltic Exchange Airfreight Index, which uses TAC Index data based on spot and contract pricing, airfreight rates on key trade lanes out of Hong Kong continued to reflect the quieter summer period in August, ahead of a predicted pick up for the peak season.  The data showed that rates from Hong Kong to North America picked up slightly in August, increasing to $5.29 per kg compared with $5.11 per kg in July. From Hong Kong to Europe, rates were down slightly in August at $4.26 per kg compared with $4.39 per kg a month earlier. Rates on both trades were down on a year ago, prices from Hong Kong to North America were 11.2 per cent down year on year in August, while to Europe they were 3.8 per cent down. The decrease from last year’s levels reflects weaker demand levels and lower jet-fuel prices. In its end of August weekly market update, TAC Index said rates on a global basis had been flat in August due to the quieter summer period. “Despite reports of continuing high demand in certain sectors ranging from garments and pharma to electronics and semiconductors as well as capacity constraints causing delays in certain markets, overall rates were still flat to down as the traditionally quieter summer ‘low season’ continued,” TAC said.