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Airfreight Rates in Hong Kong and Frankfurt Show Signs of Stabilization

In a welcome development, airfreight rates out of Hong Kong and Frankfurt have started to stabilize after several months of decline. The Baltic Exchange Airfreight Index (BAI) reveals that average prices paid by forwarders, encompassing both contract and spot rates, on services from Hong Kong to North America rose to $4.85/kg in August, up from $4.69/kg in July. This marks only the second monthly increase in the past year on this route, signaling a potential turnaround.

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CCFI Summary week 19

Ocean freight rates increased via the West Coast of North America (+1.5% week-on-week), Europe (+4.0%), and Korea (+3.3%). Freight rates via the East Coast of North America (-0.9%) decreased.

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