• Global airfreight rates rose +4.1% week on week, with the TAC Index showing +32.7% year on year growth and levels remaining above recent peak seasons.
• Asia–Pacific routes were mixed: China continued edging higher, Hong Kong strengthened, while India and parts of Southeast Asia were broadly flat or slightly weaker on Europe lanes but stronger to the US.
• Europe and US markets diverged, with transatlantic gains from Europe and sharp US-led increases—particularly Chicago and Miami lanes—helping lift several outbound US indices back into positive territory.

Global airfreight pricing continued its upward drift last week, according to the latest data from TAC Index, albeit with a noticeably softer pace on several major routes after the sharp escalations seen since the onset of conflict in the Middle East.

The global Baltic Air Freight Index (BAI00) rose a further +4.1% in the week to 27 April, extending its year-on-year advance to +32.7%. That places it comfortably above the peak levels recorded in the last two peak seasons, with little evidence of meaningful downward pressure emerging while jet fuel remains constrained and prices stay elevated.

Across Asia, spot rates from Hong Kong edged higher over the week, while India and South Korea saw either slight declines or flat performance following strong gains in preceding weeks. Outbound China continued its steady upward trend both to Europe and the United States, remaining firmly ahead on a year-on-year basis.

The broader Hong Kong outbound index (BAI30) climbed +5.4% week on week, now standing +38.0% higher year on year. Shanghai’s equivalent index (BAI80) posted a more modest +0.8% weekly increase, taking it to +33.3% year on year.

Southeast Asia presented a more mixed picture. After recent sharp gains, Vietnam and Bangkok saw slight week-on-week declines on routes to Europe, though Transpacific lanes to the US continued to strengthen. Seoul and Taiwan followed a similar pattern, with softness into Europe offset by gains into the US. Indian origin rates were broadly flat to slightly lower across both directions, but remain significantly higher year on year.

European origins showed uneven movement across trade lanes. Strong increases were recorded on Transatlantic routes to the US, alongside smaller gains to Mexico, the UAE, India, Australia and South Africa. These were partially offset by declines on services to China, Japan and Brazil.

The Frankfurt outbound index (BAI20) slipped -2.2% week on week, leaving it up +17.4% year on year. By contrast, London Heathrow (BAI40) rose a further +1.8% week on week, placing it close to double its level from a year earlier at +91.8% year on year.

In the United States, pricing strength began to align more closely with gains already seen elsewhere. Rates rose sharply to China, while further increases were also recorded on routes to Europe and South America, with Miami-led southbound lanes showing particularly strong movement. The Chicago outbound index (BAI50) surged +27.4% week on week, returning to positive territory at +3.9% year on year.

Mexico-origin rates to Europe also climbed again over the week, extending their already substantial year-on-year increases.

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