Oct 18, 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 (October 19, 2024)

🕓 5 Min Read

Global & Regional Air Freight Rates

Industry News: Air Cargo Markets Stabilize Before Peak Season Surge

Air freight markets were subdued in the week leading to October 14, with the TAC Index reporting a slight dip of 1.2% in the Baltic Air Freight Index, maintaining a 5.4% gain over the past year. Outbound rates from China to the U.S. and Europe dropped slightly post-Golden Week, although signs of recovery emerged as peak season approaches. Hong Kong's rates edged up, while Shanghai saw marginal weekly declines but held a 13.2% YoY increase.

Rates from Europe rose notably on multiple routes, particularly to the U.S., Japan, and China, amid geopolitical concerns. However, Frankfurt’s index dropped by 2.5% weekly despite some gains, while London saw modest growth, posting a 3.2% YoY rise. In the Americas, Chicago’s index declined 9.7% week-on-week, stabilizing its YoY change at zero, as rates to Europe, China, and South America fell following a temporary delay in the East Coast dock workers' strike.

As markets head into the peak season, fluctuating rates and geopolitical tensions will likely influence air cargo trends, shaping the performance of the coming weeks.

Source: Air Cargo News, STAT Trade Times

Selling Rates from North America

What Pelicargo Can Offer You

Check out Pelicargo’s latest rates!

(as of Oct, 19. 2024)

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

* Please note that the rates displayed serve as a reference and are subject to individual circumstances.

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

Editorial Revision: Ken Miao

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