According to the Baltic Exchange Air Freight Index (BAI), average rates on the route reached US$9.70 per kg, which beats the previous high of $9.53 per kg recorded in mid-May.
Compared with the same week last year prices are up by around 85 per cent. And prices on the spot market are likely to be higher as the index includes block space agreements.
The Golden Week holiday in China, starting October 1, also causes a surge in demand out of locations across Asia as companies stock up before the one week break.
Freight forwarder Flexport said the market out of Hong Kong remains tight with limited capacity and longer transit times expected.
There is also ongoing congestion at Shanghai PVG as the airport continues to catch up from closures in mid-August due to Covid outbreaks.
Index prices from Shanghai to North America are understood to be even higher, at almost $11 per kg - the highest they have been since the PPE crisis in mid-May last year.