Nov 20, 2024. Weekly Market Updates

Another week, another meet! Dear freight forwarders. 

Let's Talk Numbers!

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 (November 20, 2024)

🕓 5 Min Read

Global & Regional Air Freight Rates

Industry News: Air Freight Rates Dip Amid Seasonal Adjustments

Air freight rates saw a slight decline during the week ending November 18, with the Baltic Air Freight Index falling by 1.6%, according to TAC Index data. While the drop comes as peak season begins, the index remains 1% higher than the same period last year, which saw a significant market spike. Spot rates out of China showed mixed trends, with gains on Trans Pacific lanes but a 2.8% week-over-week (WoW) drop from Shanghai, though still 4% above year-over-year (YoY) levels.

In Europe, rates rose to key destinations like China, Japan, and the U.S., despite a slight 1.3% WoW drop from Frankfurt and a 6.5% WoW decline from London Heathrow. In the Americas, rates fell 10% WoW from Chicago but continued to climb on South American routes, particularly from Miami, which remains the busiest hub for trade to the region.

The data highlights a complex market landscape, with regional variations reflecting ongoing adjustments ahead of the holiday peak season, underscoring the resilience and unpredictability of global air freight trends.

Source: Baltic Exchange, STAT Times

Selling Rates from North America

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(as of Nov, 20. 2024)

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

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Market Updates: Toby Raworth

Editorial Revision: Ken Miao

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