Airfreight rates on major trades continue ahead of last year

Airfreight rates continued to trend ahead of last year’s levels in May, with the transpacific trade lane showing particularly strong growth.
The latest data from Tac Index shows that in May airfreight rates on services from Hong Kong to North America increased by 22% year on year to reach $3.88 per kg.
The year on year increase is not too surprising given continued strong demand on the lane over recent months.
However, in the past two years, rates on the trade lane have declined between April and May. This year, that trend was reversed as prices increased by 6.3% year on year, reflecting the strength of trade between the two regions.
Prices on the lane usually remain relatively flat during the summer months before ramping up in September and reaching a peak towards the end of the year.
Elsewhere, rates reflected normal seasonal trends. On the Frankfurt-North America route prices were up by 2.7% year on year to $2.63 per kg, but declined on April levels by 9.3%.
Rates on the lane tend to begin to weaken around this time of year as carriers begin to add capacity for the tourist season.
Finally, on the Hong Kong-Europe trade airfreight prices increased by 16.4% year on year to $2.55 per kg, reflecting growing demand.
There was also an increase compared with April levels, but this is a reflection of normal trends. Rates on this trade normally pick up slightly over the summer, before increasing more strongly during the peak.
Click on chart for interactive version

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