Global airfreight rates dipped slightly last week, continuing a trend of relative stability in the sector amid ongoing geopolitical and economic uncertainty. According to the latest data from TAC Index, the global Baltic Air Freight Index (BAI00) declined by 0.6 percent in the week to 9 June, leaving it down 4.8 percent year-on-year.
Despite this marginal weekly drop, the overall market remains comparatively firm when set against last year’s figures, which were inflated by surging e-commerce demand and contrasted with significantly lower jet fuel prices.
Rates on the busiest routes out of China softened slightly week-on-week to both Europe and the United States. Spot rates from Hong Kong, tracked by the new BAI Spot indices now approaching public trial, were also trending down. However, the broader BAI30 index, which includes both spot and contracted shipments from Hong Kong, edged up by 0.8 percent on the week, though it remains 7.6 percent lower than a year ago.
In Shanghai, the BAI80 index dipped marginally by 0.9 percent week-on-week, placing it 5.0 percent down year-on-year.
Elsewhere in Asia, airfreight rates from Vietnam rose slightly to Europe but continued to fall on routes to the US, now significantly lower than the same period last year. Indian exports saw rates drop in both directions, marking another week of year-on-year decline. Rates from Bangkok and Seoul also slipped on Europe-bound lanes, though they remain well above last year’s levels amid reports of strong demand and growing volumes.
In Europe, the picture was mixed. Rates increased on routes to Japan and edged up slightly overall to the US—showing robust year-on-year gains—but declined again on lanes to China. Outbound from Frankfurt (BAI20), rates fell by 1.7 percent week-on-week, but still stood 0.7 percent higher than a year ago, buoyed by strong performance on transatlantic routes. London Heathrow (BAI40) followed a similar pattern, dipping 0.7 percent but remaining up 3.6 percent year-on-year, with particularly strong demand to the Middle East.
From North America, airfreight rates rose week-on-week to both Europe and South America, driven by further increases on routes out of Miami. However, rates to China declined. The Chicago outbound index (BAI50) dropped by 5.1 percent week-on-week due to softer pricing on Southeast Asian routes, though it still managed a slight year-on-year gain of 0.2 percent.
TAC Index continues to expand its data coverage, with new lanes added in the past week. These include routes from Europe to India, the UAE, Mexico, Brazil, Australia and South Africa; from Mexico to Europe; and from China to India, Spain and Australia.
