Global airfreight prices have maintained their upward momentum, according to the latest data from TAC Index, the leading price reporting agency for airfreight. The overall Baltic Air Freight Index (BAI00) calculated by TAC rose by 0.2 percent in the week ending 3 June, marking a 6.4 percent increase over the past year. This trend continues despite the season typically seeing lower rates due to increased capacity.
Air cargo news also highlighted a reported crackdown on e-commerce compliance rules in the US, causing disruptions for customs brokers. However, TAC sources indicated that the reports were exaggerated, with most major brokerage firms already maintaining effective compliance measures. The index for outbound routes from Hong Kong (BAI30) increased by 1.0 percent week-on-week, up 15.0 percent year-on-year, although the rise in average rates to Europe did not yet fully reflect the market’s underlying strength. Outbound Shanghai (BAI80) dropped by 1.8 percent week-on-week but remained 41.4 percent higher year-on-year, with rates to the US falling but rising to Europe. Rates from India to Europe were also climbing, as were rates generally out of Vietnam.
In Europe, rates rebounded from Frankfurt (BAI20) with a 6.6 percent week-on-week increase, driven by strong gains to China and Southeast Asia, reducing the year-on-year decline to 26.0 percent. Conversely, outbound rates from London (BAI40) fell by another 3.7 percent week-on-week, with declines across most major lanes, pushing the year-on-year drop to 39.8 percent.
From the Americas, rates from Chicago (BAI50) rose by 1.3 percent week-on-week, trimming the year-on-year decline