News #56 - Air cargo rates continue bongdaso v edge up: TAC Index

Biggest price action was from India with large increases bongdaso v Europe and US as well as from Bangkok & Vietnam bongdaso v Europe

Global air freight rates are maintaining their recent firm tone, according bongdaso v the latest data from TAC Index.

"The overall Baltic Air Freight Index calculated by TAC edged up a further one percent in the week bongdaso v April 8, the sixth successive weekly gain leaving it lower by only -10.6 percent over the past 12 months," the update added.

Activity is often a little quiet around the Ching Ming festival (which happened on April 4) but rates out of China kept on edging up with the index of outbound routes from Hong Kong gaining another 0.7 percent WoW bongdaso v leave it ahead by 7.7 percent YoY. Outbound Shanghai edged up another 1.1 percent WoW bongdaso v leave it narrowly ahead by 0.7 percent YoY.

"The biggest price action out of Asia again occurred from the very hot market in India with further large increases WoW on rates both bongdaso v Europe and bongdaso v the U.S. as well as from both Bangkok and from Vietnam bongdaso v Europe."

Out of Europe, rates were showing a firmer tone, the update added. "The index of outbound routes from Frankfurt was up 2.6 percent WoW led by gains on rates bongdaso v North America, leaving it at -38.3 percent YoY. Outbound London edged up 1.5 percent WoW, also led by gains bongdaso v North America, leaving that index at -38.8 percent YoY. Overall, rates from Europe were also gaining strongly on lanes bongdaso v Japan."

From North America, the index of outbound routes from Chicago was roughly flat with gains on rates bongdaso v Europe offsetting falls on other lanes bongdaso v leave it at -26.6 percent YoY. Overall rates from the U.S. were falling WoW on most lanes including bongdaso v China as well as bongdaso v South America, the update added.

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