TAC: Air freight market update

TAC Index writes:

Global air freight rates firmed up a little last week (…).

The overall Baltic Air Freight Index (BAI00) was up +2.9% in the week to 31 July, trimming its decline over 12 months to -46.2%. The latest data tends to support market sources suggesting that rates are finally bottoming out ahead of some major product launches coming up in September – leading to something more like a normal peak season this year.

(…) 

The index of outbound rates from Hong Kong (BAI30) was up +2.9% WoW, exactly in line with the industry average, leaving its YoY decline at -42.6%. Rates were flat to Europe but up to other regions including North America, with Chinese e-commerce companies still enjoying strong demand from southern China. Rates from Shanghai (BAI80) also edged up +0.2% WoW, taking the annual change for that index to -47.7% – with rates down to Europe but up to the US. 

The full post can be read here.