TAC’s Neil Wilson writes:
Air freight rates were up again last month, with the global Baltic Air Freight Index (BAI00) calculated by TAC Data rising +8.1% over the four weeks to 4 November, leaving it ahead by +10.9% over 12 months.
October thus delivered another in a series of solid gains this year, especially on big export lanes out of Asia to Europe and North America. Though not as spectacular as some had been expecting – for a period when the market enters its traditional peak season in the runup to Thanksgiving and Christmas holidays.
Indeed, some big forwarders now say there may be less of a peak season spike than they were expecting back in the summer, when a lot of forward capacity was being booked via block space agreements (BSAs).
Kuehne+Nagel, for instance, said in its latest results statement that it now anticipates the peak to be ‘more muted’ than it expected earlier this year…
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