Airfreight rates edged up a little more last week according to the latest data from TAC Index, the leading price reporting agency for air freight markets. The global Baltic Air Freight Index (BAI00) calculated by TAC rose another +1.0 percent in the week to 11 November, leaving its gain over 12 months at +7.3 percent. Sources said the rise was led again by higher spot rates, particularly on busy TransPacific routes out of China – and although further increases are still expected in the run up to Thanksgiving and Christmas it now seems increasingly unlikely there will be such a big peak season high as many were expecting earlier this year.

Average rates were higher again from China both to Europe and to the US. But the index of outbound routes from Hong Kong (BAI30) gained only a further +0.2 percent WoW, leaving its gain at +9.7 percent YoY. Outbound Shanghai (BAI80) was exactly flat at +0.0 percent WoW leaving its gain at +12.6 percent YoY. After the big gains of earlier this year there were also falls in rates WoW out of both Vietnam and Bangkok as well as out of India both to the US and to Europe.

Out of Europe, rates eased lower again after gains the previous week with falls on most major lanes, including to China and to Japan – though there were further gains to the US. The index of outbound routes from London Heathrow (BAI40) eased lower by -0.4 percent WoW, leaving the YoY increase at +7.9 percent. After a recent bounce, outbound Frankfurt (BAI20) also fell back by -2.2 percent WoW despite strong gains on lanes to North America, leaving its YoY decline languishing at some -14.3 percent.

From the Americas, the often volatile index of outbound routes from Chicago (BAI50) rebounded strongly from a big drop the previous week with a chunky gain of +18.6 percent WoW, pushing its YoY change back into positive territory at +5.9 percent. Overall rates from the US were up strongly WoW on most major lanes including to China and to Europe as well as to South America again.