THE most recent data from TAC Index indicates a persistent increase in global air freight rates, reports Mumbai's Stat Trade Times.
'The overall Baltic Air Freight Index (BAI00), calculated by TAC, was up a further 4.6 per cent in the week to December 11, cutting its year-on-year fall to only ten per cent though some market sources now expect this strong peak season surge to start tapering off as the year comes to an end,' said a report.
The prevailing pattern is still being spearheaded by escalating rates originating from China, primarily fueled by the e-commerce sector.
The outbound rates index from Hong Kong surged 7.1 per cent week over week (WoW), resulting in a year-on-year change of 12.8 per cent.
Meanwhile, the outbound Shanghai index experienced a further 4.2 per cent increase, securing significant gains on major routes and maintaining a substantial lead at 18.5 per cent.
Conversely, rates originating from Europe remain significantly below last year's levels, primarily due to subdued general cargo demand, excluding the e-commerce sector.
Outbound Frankfurt experienced a 1.8 per cent week-to-week increase but remained notably lower year on year at down 48.4 per cent, with rates continuing to decline on specific routes to China and the US Outbound London saw a 4.3 per cent week to week gain on all major lanes but still exhibited a considerable year-on-year drop of 60.4 per cent.
Outbound Chicago registered a 1.4 per cent decline and is down 31.3 per cent, despite a slight overall increase in Transatlantic rates between the US and Europe in both directions.
Following substantial recent gains in rates from Vietnam, the week was relatively calm, although rates from India continued to rise, as noted in the update.
SeaNews Turkey
'The overall Baltic Air Freight Index (BAI00), calculated by TAC, was up a further 4.6 per cent in the week to December 11, cutting its year-on-year fall to only ten per cent though some market sources now expect this strong peak season surge to start tapering off as the year comes to an end,' said a report.
The prevailing pattern is still being spearheaded by escalating rates originating from China, primarily fueled by the e-commerce sector.
The outbound rates index from Hong Kong surged 7.1 per cent week over week (WoW), resulting in a year-on-year change of 12.8 per cent.
Meanwhile, the outbound Shanghai index experienced a further 4.2 per cent increase, securing significant gains on major routes and maintaining a substantial lead at 18.5 per cent.
Conversely, rates originating from Europe remain significantly below last year's levels, primarily due to subdued general cargo demand, excluding the e-commerce sector.
Outbound Frankfurt experienced a 1.8 per cent week-to-week increase but remained notably lower year on year at down 48.4 per cent, with rates continuing to decline on specific routes to China and the US Outbound London saw a 4.3 per cent week to week gain on all major lanes but still exhibited a considerable year-on-year drop of 60.4 per cent.
Outbound Chicago registered a 1.4 per cent decline and is down 31.3 per cent, despite a slight overall increase in Transatlantic rates between the US and Europe in both directions.
Following substantial recent gains in rates from Vietnam, the week was relatively calm, although rates from India continued to rise, as noted in the update.
SeaNews Turkey