Global airfreight prices continue to rise, according to the latest data from TAC Index, the leading price reporting agency (PRA) on air freight. The overall Baltic Air Freight Index (BAI00) calculated by TAC was up a further +2.2% in the week to 8 July, leaving it ahead by +13.4% over 12 months – reflecting continued strong e-commerce activity and business switching to air cargo in response to higher rates and disruption in ocean shipping.

The index of outbound routes from Hong Kong (BAI30) was lower by -0.6% WoW with rates slightly lower on most major lanes, but still ahead by some +22.3% YoY. Outbound Shanghai (BAI80) however was up a further +3.0% WoW to leave it ahead by +42.3% YoY – with rates higher on most major lanes and overall rates from China rising both to Europe and to the US. Rates out of India were down a little after huge gains earlier this year, but out of Vietnam were rising sharply again to the US as well as from Bangkok to Europe.

Out of Europe, the pattern reversed from the previous week. The index of outbound routes from Frankfurt (BAI20) bounced by +8.4% WoW with gains on most major lanes clipping the YoY decline to only -7.8%. Outbound London (BAI40) on the other hand gave back some of the previous week’s gain with a WoW fall of -3.1% leaving the YoY decline at -25.9%.

From the Americas, rates from Chicago (BAI50) also bounced back strongly from the previous week’s drop with a jump of +11.5% WoW, helping cut the YoY decline to -26.0%. Overall rates from the US were rising both to Europe and to China, as well as to South America.