Cargo Breaking News
Global air freight rates were slightly changed in the week to April 22, according to the latest data from TAC Index, the leading price reporting agency on air freight markets. The overall Baltic Air Freight Index calculated by TAC was up a tad (+0.1 percent), leaving it at -8.2 percent over 12 months – a second successive week of little change after a series of rises over the previous six weeks.
There was little evidence of any immediate impact on prices caused by severe rain in the Middle East and disruption in major hubs like Dubai, the update added. “Rates on the big lanes out of China continued to edge upwards, buoyed by the continuing rise of e-commerce.
The index of outbound routes from Hong Kong gained another 1.4 percent WoW to put it ahead by 11.8 percent YoY. Outbound Shanghai gained 2.4 percent WoW to put it up 12 percent YoY. Rates out of Vietnam fell back a bit after recent strong gains, and rates out of India were fairly flat overall after an even stronger surge in recent months.”
Out of Europe, the market continued to be weak, and the index of outbound routes from Frankfurt declined 3.7 percent WoW with declining rates on most major lanes pulling it down to -38.3 percent YoY. Outbound London dropped 7.9 percent WoW.
From the Americas, rates from outbound Chicago were also softer, down 2.5 percent WoW to leave the index at -31.3 percent YoY. Overall rates from the U.S. were falling again to China but rising both to Europe and to South America, the update added.
