Airfreight rate fluctuations in July remained relatively subdued as the global air cargo market continued to navigate its seasonal slowdown.
According to the Baltic Air Freight Index (BAI), compiled by TAC Data, global airfreight rates in July rose 4% month on month, yet were down approximately 1.8% year on year.
On the Hong Kong–North America lane, a blend of spot and contract rates increased 2.4% from June to an average of $5.11 per kg, marking a 10.7% year-on-year decline. For the Hong Kong–Europe route, rates edged up 0.7% compared to June to reach $4.39 per kg, while remaining 2.4% lower than the same period last year.
Neil Wilson, Editor at TAC, attributed the stability in rates to the quieter summer months, while noting that supply chains are still being recalibrated in anticipation of U.S. tariff adjustments and the termination of the de minimis duty exemption on August 27.
“The relatively muted movement in rates was not unusual for a period when air cargo often enters its ‘low season’,” Wilson said. “This time of year typically sees additional bellyhold capacity from passenger flights, especially on transatlantic routes, as holiday travel increases. The extra capacity helps keep rates contained.”
Wilson noted that the extreme market uncertainty surrounding tariffs and trade policy earlier in the year has eased considerably. However, both shippers and carriers continue to reconfigure supply chains and capacity allocation across various trade lanes. This has resulted in significant variation in pricing trends between different regions and outbound origins.
“On the traditionally busiest routes from China to the U.S. and Europe, rates showed minimal movement,” he added. While pricing out of China remained static month over month, the relative resilience of these rates reflected efforts by shippers to move cargo earlier to mitigate the risk of further escalation in the U.S.–China trade dispute.
Additionally, freighter capacity has been redirected from certain lanes, with increased deployment on routes from Vietnam, Thailand, and Malaysia.
Earlier this week, market intelligence provider Xeneta reported a surprise 5% year-on-year growth in July air cargo demand, driven by frontloading activity and a shift by shippers toward air transport to circumvent potential tariff impacts.
Source: https://www.aircargonews.net/data-news/airfreight-rates-muted-as-cargo-low-season-continues/1080503.article
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