• Global air freight rates rose sharply again last week according to the latest data from TAC Index, the leading price reporting agency on air freight markets and calculating agent for the Baltic Air Freight indices. The global Baltic Air Freight Index (BAI00) jumped by +6.6 percent over the seven days to November 9, taking its gain to +28.2 percent year-on-year.
• After a slight fall the previous week, the latest numbers confirm a renewed hardening in rates as the market heads into the busiest weeks of traditional peak season: ahead of Black Friday and Thanksgiving in the US and Christmas in Europe.
• Rates were mostly up WoW on the biggest lanes out of China, though slightly down from recent highs on the busiest lanes to the US. But BAI Spot prices, reflecting more purely marginal prices, were up on all major lanes out of Hong Kong, Shanghai and Korea.

Global air freight rates rose sharply again last week according to the latest data from TAC Index, the leading price reporting agency on air freight markets and calculating agent for the Baltic Air Freight indices. The global Baltic Air Freight Index (BAI00) jumped by +6.6 percent over the seven days to November 9, taking its gain to +28.2 percent year-on-year.

After a slight fall the previous week, the latest numbers confirm a renewed hardening in rates as the market heads into the busiest weeks of traditional peak season: ahead of Black Friday and Thanksgiving in the US and Christmas in Europe.

Rates now stand at their highest levels of 2026 and well above the previous two peak season highs. Recent falls in crude oil and jet fuel prices following last week’s US midterm elections have yet to translate into any apparent easing.

Rates were mostly up WoW on the biggest lanes out of China, though slightly down from recent highs on the busiest lanes to the US. But BAI Spot prices, reflecting more purely marginal prices, were up on all major lanes out of Hong Kong, Shanghai and Korea.

TAC Index signaling global rate rises covering vast majority of lanes

The full index of outbound routes from Hong Kong (BAI30), reflecting the whole spectrum of spot and forward rates from the world’s biggest airport by cargo volume, gained +4.6 percent WoW to leave it ahead by +29.2% YoY. Outbound Shanghai (BAI80) gained +5.7 percent WoW to leave it at +21.1 percent YoY.

Rates were also mostly on the rise from other big hubs in East Asia like Seoul, though slightly lower WoW from Taiwan to the US. From South East Asia, rates were rising from Vietnam but a little lower from Bangkok – amid reports of backlogs there disrupting import and export volumes.

From Europe, there was a big rebound after the previous week’s dip in Transatlantic rates to the US, plus chunky gains on some other routes including to Brazil, India and the UAE. There were also some falls WoW on other lanes including to China – following a series of substantial increases – as well as to Japan, Australia and South Africa.

The index of outbound routes from Frankfurt (BAI20) jumped by +9.9 percent WoW – led by gains both to the US and to China – pushing its gain up to +48.1% YoY. Outbound London Heathrow (BAI40) was also up a healthy +5.6 percent WoW, leaving its rise at +23.4 percent YoY.

Rates were also mostly higher out of North America including on Transatlantic lanes to Europe and the UK as well as to China and Korea – though not overall on southbound lanes to South America.

The index of outbound routes from Chicago (BAI50) surged back after recent falls with a gain of +21.9 percent WoW, taking its gain to +40.3 percent YoY, though remains a long way below its highest points this year during the early phases of the US-Iran conflict. Rates from Mexico to Europe also jumped sharply WoW to leave them substantially higher YoY.

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