Global air cargo rates stabilised in the week ending 12 January, rising zero point six percent after a sharp New Year decline, according to TAC Index data. While rates from Asia remained mixed, outbound Europe and North America saw double-digit weekly gains. London Heathrow rose eighteen point four percent week-on-week, while Chicago climbed ten point four percent. Overall, the Baltic Air Freight Index remains four point nine percent lower than a year ago, with regional volatility continuing to shape rate movements across major trade lanes.
Global air freight rates stabilised last week following a sharp decline over the New Year, according to the latest data from TAC Index, the air freight price reporting agency. For the week ending 12 January, the Baltic Air Freight Index (BAI00) edged up 0.6 percent, leaving it 4.9 percent lower than the same period last year.
The headline figure masked notable regional variation. Rates out of Asia were broadly unchanged, while Europe and North America saw a strong rebound from the previous week’s falls.
On China’s busiest export lanes, rates were slightly higher to the U.S. and slightly lower to Europe, though now up year-on-year in both directions. Spot rates from Hong Kong continued to trend lower as the annual tender cycle for forward block space agreements gathered pace. The Hong Kong outbound index (BAI30) fell 6.4 percent week-on-week and remains 4.8 percent lower year-on-year. Outbound Shanghai (BAI80) was flat week-on-week but remains 4.0 percent higher than a year ago.
Elsewhere in Asia, rates increased week-on-week from Vietnam, Bangkok and Seoul to the U.S., while easing on routes to Europe. Rates from Taiwan declined week-on-week but remain comfortably higher year-on-year in both directions. From India, rates edged up slightly to Europe and dipped marginally to the U.S., though remain well down year-on-year on both lanes.
European outbound rates surged again, particularly on Transatlantic routes to the U.S., and also rose on lanes to Australia, the UAE and China. Rates to India, Japan, Brazil, Mexico and South Africa were weaker. Driven by gains to Asia and North America, the Frankfurt outbound index (BAI20) jumped 10.8 percent week-on-week, narrowing its year-on-year decline to 10.7 percent. London Heathrow (BAI40) rose even more sharply, up 18.4 percent week-on-week, bringing its year-on-year performance back to flat.
From North America, rates rebounded strongly on Transatlantic routes to Europe, particularly to Germany and the UK. Rates eased slightly to China and South America, though remained firm on the busiest southbound lanes from Miami. The Chicago outbound index (BAI50) gained 10.4 percent week-on-week but remains 30.1 percent lower year-on-year. Rates from Mexico to Europe also rose sharply, returning to positive year-on-year territory.
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Author: Anastasiya Simsek
