Hong Kong Airfreight Rates Flat Compared to June, Up from Last Year

In July, airfreight rates from Hong Kong remained stable compared to June but were higher than last year. The Baltic Exchange Airfreight Index (BAI) reports a slight decrease in rates to Europe, now $4.50 per kg, and to North America, now $5.72 per kg. Despite a 0.9% drop in the overall BAI index, rates from Hong Kong to Europe are up 24.3% and to North America by 22% from last year, reflecting higher e-commerce demand and modal shifts. The IT outage in late July had minimal impact on rates. Rates on the transatlantic route remain flat due to overcapacity, with expectations for a peak season rate rise later in the year.