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

Aug 17, 2024

1 min read

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.

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