Air cargo rates continue to edge up: TAC Index

Global air freight rates are maintaining their recent firm tone, according to the latest data from TAC Index. “The overall Baltic Air Freight Index calculated by TAC edged up a further one percent in the week to April 8, the sixth successive weekly gain leaving it lower by only -10.6 percent over the past 12 months,” the update added.

Activity is often a little quiet around the Ching Ming festival (which happened on April 4) but rates out of China kept on edging up with the index of outbound routes from Hong Kong gaining another 0.7 percent WoW to leave it ahead by 7.7 percent YoY. Outbound Shanghai edged up another 1.1 percent WoW to leave it narrowly ahead by 0.7 percentYoY. “The biggest price action out of Asia again occurred from the very hot market in India with further large increases WoW on rates both to Europe and to the U.S. as well as from both Bangkok and from Vietnam to Europe.”