• Global airfreight rates rebounded last week, with the TAC Index reporting a 2.8 percent rise in the Baltic Air Freight Index, taking prices 32.7 percent higher year-on-year after a short period of easing linked to earlier disruption and fuel volatility.
• Asia-led strength continued to underpin the market, with gains across key origins including Hong Kong, Seoul, Taiwan and parts of South East Asia, while forward and spot demand rose as shippers moved early ahead of EU regulatory changes and peak season capacity constraints.
• Regional performance was uneven elsewhere, with Europe showing mixed trends but strong gains out of London Heathrow driven by transatlantic demand, while US outbound rates also firmed on routes to Europe, Asia and South America, particularly via Miami.

After falling slightly in the previous two weeks, global airfreight rates rose again last week according to the latest data from TAC Index, the leading price reporting agency for global airfreight markets.

The global Baltic Air Freight Index (BAI00) calculated by TAC gained +2.8% in the week to June 1, leaving it ahead +32.7% year-on-year.

Rates had flattened out in recent weeks as the market adjusted to disruption caused by the Iran war and a major spike in jet fuel prices (though easing slightly in May). However, sources are now pointing to other factors pushing prices higher again, including new de minimis rules for small packages into the EU – with some shippers accelerating moves into Europe ahead of implementation – as well as continued strength on Transpacific and inter-American lanes. There is also evidence of forward buying, with shippers seeking to secure capacity ahead of the peak season.

BAI spot rates out of Hong Kong firmed slightly during the week, as did those out of India and Korea. Overall rates from China were marginally lower week-on-week both to Europe and the US, but the broader index of outbound routes from Hong Kong (BAI30) – reflecting a mix of spot and forward pricing across multiple lanes – rose +4.0% week-on-week to +39.0% year-on-year.

Outbound Shanghai (BAI80) also edged up +0.9% week-on-week to +29.9% year-on-year. Elsewhere across Asia, rates from Seoul increased again week-on-week to both Europe and the US, while Taiwan–Europe improved though Taiwan–US softened slightly. South East Asia was more mixed: Bangkok saw strong gains to Europe but little change to the US, while Vietnam rates to Europe eased slightly but rose to the US, including new coverage from Hanoi. Malaysia–US also strengthened notably, while India was only marginally firmer.

European trends were more uneven. Overall Transatlantic rates were slightly lower week-on-week, although UK–US lanes saw a sharp uplift. Rates declined on routes to China, India, Australia, Brazil, South Africa and the UAE, though Gulf lanes remain significantly higher year-on-year despite restored capacity into the Middle East. Gains were recorded to Mexico and Japan. The Frankfurt outbound index (BAI20) fell -8.8% week-on-week to +14.8% year-on-year, while London Heathrow (BAI40) surged +31.6% week-on-week, rebounding strongly and sitting +71.2% year-on-year.

US-origin pricing was broadly higher week-on-week, with further gains on Transatlantic flows into Europe as well as to China, Korea and South America, led by a sharp rise on southbound Miami routes. The Chicago outbound index (BAI50) rose +2.3% week-on-week to +16.3% year-on-year. Mexico–Europe rates also edged higher again week-on-week, remaining well above year-ago levels.

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