Rates from Hong Kong and Shanghai fell sharply as post-peak volumes declined, though Taiwan lanes thrived on semiconductor demand
TAC Index data showed airfreight rates dropped last week, in line with the typical New Year pattern when volumes fall after the end of peak season.
The global Baltic Air Freight Index (BAI00), calculated by TAC, dropped by 14.1% in the week to 5 January, leaving it 11.4% lower year on year.
In comparison, airfreight rates on key east-west trade lanes ended 2025 on a high as peak season demand pushed up pricing levels.
Rates out of Asia, China in particular, have fallen. Rates out of China fell on lanes both to Europe and to the US, with BAI Spot rates from Hong Kong dipping sharply day by day in both directions, reported TAC Index.
The full index of outbound routes from Hong Kong (BAI30) – reflecting the whole spectrum of spot and forward rates being paid – dropped 12.8% week on week and 3.9% year on year.
Outbound Shanghai (BAI80) plummeted 19.9% week on week, though down 6.1% year on year.
Elsewhere out of Asia, rates were also mostly falling and lower year on year, including from Vietnam and from India and Seoul both to Europe and the US.
Exceptions included rates from Bangkok to Europe, which jumped week on week. Rates from Taiwan gained week on week and also remain up year on year, both to Europe and the US as a result of strong deand for semiconductors.
Meanwhile, out of Europe, rate patterns were mixed, said TAC Index. After a series of gains, rates fell back on transatlantic lanes to the US and were also slightly lower to China and to Japan – but were up on lanes to Australia, Brazil, Mexico, India and the UAE.
Rates also fell week on week to South Africa, but were still ahead year on year. The index of outbound routes from Frankfurt (BAI20) slipped by 4.8% week on week but remains 25.3% down year on year.
Outbound London Heathrow (BAI40) dipped by 11.2% week on week to leave it down 15.3% year on year.
From the US, rates were mostly falling too, including on lanes to Europe and to South America – though not to China nor to South Korea.
The index of outbound routes from Chicago (BAI50) dropped 14.3% week on week to leave it down 33.9% year on year, highlighted TAC Index. Rates from Mexico to Europe also fell slightly week on week, but remain close to flat year on year.
