Dec 18, 2024. Weekly Air Cargo Market Updates

Happy Holidays! 🌲 Dear freight forwarders.

Stay ahead in the world of international air freight with Pelicargo's Weekly Market Updates. We provide essential insights into economic trends, air freight demand, rate movements, and everything that matters to keep you informed about the market. 

-- Toby Raworth / Commercial Director, Pelicargo (December 18, 2024)

🕓 5 Min Read

Global & Regional Air Freight Rates

Industry News: Air Cargo Rates Show Modest Gains Amid Strong Peak Season

Air freight rates rose modestly during the week ending December 16, according to TAC Index data. The Baltic Air Freight Index increased by 0.8% week-on-week, putting it 0.5% ahead of the same period last year, which saw a pronounced peak season spike. Despite increased capacity and careful planning by shippers and freight forwarders, the market continues to reflect strong seasonal demand. Outbound rates from Hong Kong rose 1% week-on-week but remain 4% lower year-on-year, while Shanghai’s rates dipped slightly by 1% but are still 0.7% higher than last year.

Mixed trends were observed across Asia, with rates rising from Vietnam and India to the U.S. but softening to Europe. In Europe, rates climbed overall, with Frankfurt’s index up 1.8% week-on-week and 19.1% year-on-year, while London Heathrow surged by 12.9% week-on-week, driven by higher U.S. rates, resulting in a 24.3% year-on-year increase. In contrast, Chicago saw a 2% week-on-week decline, leaving rates 14.1% lower year-on-year.

These shifts in air cargo rates highlight the dynamic nature of the market during peak season, influenced by varying regional trends and capacity adjustments.

Source: Baltic Exchange, Stat Times

Selling Rates from North America

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(as of Dec, 18. 2024)

* All-In Rate. Screening Fee not Included. Ch.Weight varies by case.

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* For personalized rates, kindly reach out and inquire here.

Market Updates: Toby Raworth

Editorial Revision: Ken Miao

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