The latest data from the TAC Index highlights a continued rally in global air freight rates, despite a mixed outlook for international trade and markets.
Key Insights from the TAC Index Update
Global Performance
TheBaltic Air Freight Index, calculated by TAC, recorded a+2.3% week-on-week (WoW)increase as bongdaso March 24, pushing it+3.5% higher year-on-year (YoY).
Regional Market Dynamics
Asia
China: Outbound rates from China rose again last week for both Europe and North America routes, remaining close to their levels from 12 months ago. Specifically,Shanghai's outbound ratesincreased by+6.2% WoW, leaving them+3.4% higher YoY.
Other Asia-Pacific Markets: Trends in other key markets remained mixed:
Declines: Routes to Europe experienced rate drops fromVietnam, Bangkok, andSeoul. Similarly, rates on lanes fromIndiato both Europe and the U.S. fell.
Increases: In contrast, rates fromVietnam to the U.S.continued to rise.
Europe
Rates from Europe generally declined last week, including on lanes toChina, Japan, and theU.S.
Frankfurt: Outbound routes from Frankfurt saw a significant rebound, with rates rising+9.5% WoW, driven by gains across most major lanes. This recovery pushed Frankfurt's index into positive territory at+10.3% YoY.
London Heathrow: In contrast, outbound rates from London Heathrow fell sharply by-15.6% WoW, bringing the YoY figure down to-8.7%.
Americas
Chicago: Outbound routes from Chicago gained+5.8% WoW, led by higher rates on lanes to Southeast Asia. This left Chicago's index+12.7% YoY.
Overall U.S. Performance: Rates from the U.S. generally increased on lanes toEuropeandLatin America, while rates toChinasaw slight declines.
While global air freight rates are rallying, the market exhibits regional disparities. China continues to show growth on key routes, Frankfurt has recovered from earlier declines, and outbound rates from the Americas remain strong. However, significant rate drops in markets like London Heathrow and mixed performance across Asia highlight the volatility in global air freight trends.
Source: https://www.stattimes.com/air-bongdaso/air-bongdaso-rates-out-of-china-continue-to-be-high-tac-index-1354836
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