News #56 - Air cargo rates continue to edge up: TAC Index


Biggest price action was from India with large increases to Europe and US as well as from Bangkok & Vietnam to Europe

Global air freight rates are maintaining their recent firm tone, according to the latest data from TAC Index.  

"The overall Baltic Air Freight Index calculated by TAC edged up a further one percent in the week to April 8, the sixth successive weekly gain leaving it lower by only -10.6 percent over the past 12 months," the update added.

Activity is often a little quiet around the Ching Ming festival (which happened on April 4) but rates out of China kept on edging up with the index of outbound routes from Hong Kong  gaining another 0.7 percent WoW to leave it ahead by 7.7 percent YoY. Outbound Shanghai edged up another 1.1 percent WoW to leave it narrowly ahead by 0.7 percent YoY.   

"The biggest price action out of Asia again occurred from the very hot market in India with further large increases WoW on rates both to Europe and to the U.S. as well as from both Bangkok and from Vietnam to Europe."

Out of Europe, rates were showing a firmer tone, the update added. "The index of outbound routes from Frankfurt was up 2.6 percent WoW led by gains on rates to North America, leaving it at -38.3 percent YoY. Outbound London edged up 1.5 percent WoW, also led by gains to North America, leaving that index at -38.8 percent YoY. Overall, rates from Europe were also gaining strongly on lanes to Japan."  

From North America, the index of outbound routes from Chicago was roughly flat with gains on rates to Europe offsetting falls on other lanes to leave it at -26.6 percent YoY. Overall rates from the U.S. were falling WoW on most lanes including to China as well as to South America, the update added.  

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