TAC reports another surge in airfreight rates

The latest data from TAC Index, the price reporting agency on airfreight markets and the calculating agent for the Baltic Air Freight indices, show that rates have surged again of late.

The global Baltic Air Freight Index gained 4.7% over the seven days up to 19 October, reaching a figure 26.4% up year on year – and above the highest points of the last two peak seasons, which typically occur in the run-up to Thanksgiving in the US and Christmas in Europe.

This year, TAC noted, rates were already starting from elevated levels resulting from disruption to markets caused by the conflict in the Middle East and the war between Russia and Ukraine.

These same conflicts have also caused a surge in jet fuel prices – up by 113.7% year on year to 16 October according to the latest IATA Jet Fuel Price Monitor.

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