Airfreight rates from Asia ease after the Chinese New Year, yet year-on-year gains remain strong, according to TAC Index data from Payload Asia.
Airfreight rates out of Asia have begun to ease following the quieter Chinese New Year period, though year-on-year gains remain firm, according to TAC Index data, reports Singapore's Payload Asia.
Rates on the busiest lanes out of China were only narrowly higher to Europe and slightly lower to the US. Baltic Air Freight Index spot rates out of Hong Kong were little changed, while the full index of outbound routes from the city rose 1.5 percent week to week, leaving it up two percent year on year.
Outbound Shanghai increased 0.6 percent week on week and was up 11 percent year on year. Rates from Taiwan fell week on week to both Europe and the US but stayed well ahead year on year. Seoul saw slight declines, while Bangkok and Vietnam to Europe recorded gains. India's rates were marginally higher week on week but remained lower year on year.
TAC Index stated that global rates were still robust, with the Baltic Air Freight Index up 4.1 percent in the week to 16 February, leaving it 1.5 percent higher year on year. European lanes were generally firmer, led by transatlantic gains to the US, Australia, and the UAE, though lower to China, Japan, India, Brazil, and South Africa.
Frankfurt outbound routes gained 3.4 percent week on week but were down 22.1 percent year on year. London Heathrow surged 22 percent week on week, boosted by spikes to the Middle East, Southeast Asia, and Hong Kong, leaving it 43.8 percent higher year on year.
Out of North America, rates were flat to Europe and lower to China and South America, though Chicago outbound routes rose 8.3 percent week on week, including strong gains to Frankfurt, despite being down 23.4 percent year on year. Mexico to Europe rates edged up again week on week, leaving them slightly ahead year on year.
