Global air cargo rates continue to rise in March: TAC Index

Global air freight rates are continuing to rise, according to the latest data from TAC Index. The overall Baltic Air Freight Index calculated by TAC gained a further 4.1 percent in the week to March 18, the third successive weekly increase, reducing the decline over 12 months to 20.3 percent. Rates are rising strongly again out of China with the index of outbound routes from Hong Kong up a further 5.2 percent WoW with gains on almost all major lanes cutting its YoY decline to only 7.9 percent, the update added. “With sources among forwarders suggesting renewed robust demand for Chinese exports, outbound Shanghai gained 8.9 percent WoW – strong gains both to Europe and the U.S. – further eroding the YoY decline to 7.6 percent. Meanwhile, after recent huge gains, rates out of India seem to be levelling off, and from Vietnam falling back a little.”