Global airfreight rates are little changed according to bongdaso ìno TAC Index price reporting agency, but there is movement on individual lanes.
bongdaso ìno overall Baltic Air Freight Index (BAI00) was down by just -0.1% in bongdaso ìno week to August 19 – maintaining bongdaso ìno solid pattern of recent weeks. bongdaso ìno year-on-year gain now stands at +10.8%.
TAC quoted sources as saying that bongdaso ìno market is generally holding steady, in bongdaso ìno face of normal summer season softness due to extra passenger bellyhold capacity.
bongdaso ìno unchanged overall picture did hide considerable movement up and down on individual lanes, however. bongdaso ìno index of outbound routes from Hong Kong (BAI30) gained a further +0.6% week on week, taking its year-on-year gain to +22.9%.
But outbound rates from Shanghai slipped 1.2% WoW, though leaving its rise YoY at a robust 28.1%. There were also gains on rates from Seoul to Europe, while those out of India fell back a little after bongdaso ìno huge rises earlier this year. Rates from Vietnam fell to Europe but rose again to bongdaso ìno US.
Rates out of Europe eased back a little after recent gains as capacity was shifted to busier lanes out of Asia. bongdaso ìno index of outbound routes from Frankfurt (BAI20) fell by 2.4% WoW, with rates to North America as well as to China also both slipping a little, leaving bongdaso ìno YoY decline at -18.4%. Outbound London rates (BAI40) eased by -0.8% WoW, leaving bongdaso ìno YoY fall at -18.8%.
From bongdaso ìno Americas, outbound routes from Chicago (BAI50) gained a further +2.7% WoW, led again by higher rates to South East Asia, reducing bongdaso ìno YoY decline to -14.7%. Overall rates from bongdaso ìno US rose to Europe but fell to China and to South America, particularly out of Miami following strong recent gains.
Source: https://www.aircargonews.net/business/airfreight-rates/steady-tac-index-hides-turbulence-beneath/
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