TAC Index reveals little change in airfreight rates in early November
07 / 11 / 2023
The BA100 powered by TAC data. Image Source: TAC
Global air freight rates were little changed over the first week of November, according to the latest data from TAC Index.
TAC acts as the calculating agent for the Baltic Exchange and it notes that the overall Baltic Air Freight Index (BAI00) was down by just 0.5 percent in the week to 6 November.
This left its year-on-year change at down 28.8 percent but, TAC Index believes, there is evidence of a “firmer tone of peak season generally continuing”.
Rates for the biggest air freight routes out of China continued to rise slightly during the week. The index for outbound Hong Kong (BAI30) was up a further 0.6% week on week, with rates to North America also rising.
Outbound Shanghai (BAI80) was up by 0.5% week on week.
Outbound Frankfurt (BAI20) fell back by 6.1% week on week, with a sudden sharp drop in third-quarter profits at Lufthansa Cargo perhaps indicative of a market still in the doldrums, TAC Index suggested.
Outbound London (BAI40) was a little stronger after recent falls, rising 1.5% week on week.
Outbound Chicago (BAI50) was a little lower, down by 3.5% week on week.
