Global airfreight rates firmed up a little more last week according to the latest data from TAC Index, the leading price reporting agent in air freight. The overall Baltic Air Freight Index (BAI00) calculated by TAC was up a further +0.9% in the week to 16 September, leaving its rise over 12 months at +14.9 percent. Although the index was little changed after a stronger than usual summer, there were some slightly more marked spikes at the higher quintiles in the range of rates achieved – especially on the big lanes out of China. Some sources suggest this may presage the onset of the usual peak season surge, though others remain sceptical this year’s spike will prove to be quite so pronounced as last year.
The index of outbound routes from Hong Kong (BAI30) edged up +0.2% WoW taking its gain YoY to +21.6%. Outbound Shanghai (BAI80) eased lower by -0.3% leaving its YoY gain at +27.9%. Meanwhile, there was not much change WoW in rates out of either India or Vietnam, where market levels appear to have paused after massive gains earlier in the year.
Rates out of Europe were heading higher, maintaining their recent upward trend. The index of outbound routes from London (BAI40) surged +11.4% WoW, with gains on all major lanes pulling it back into positive territory for the first time in many months by+10.8% YoY. Outbound Frankfurt (BAI20) was up a more modest +1.9% WoW led by higher rates to North America, though still languishing at -13.3% YoY.
From the Americas, the index of outbound routes from Chicago (BAI50) eased lower by -1.1% WoW, leaving it also in negative territory YoY by -10.6%. Overall rates from US spiked WoW on lanes to South America and were also up to Europe, but lower on lanes to China.