Global air cargo rates experienced a 1% increase in week 25, reaching US$3.24 per kilo. This figure represents a 35% rise compared to the same period last year. Spot rates also climbed by 1% to US$3.75 per kilo. A significant development was the accelerated recovery of air cargo capacity across the Middle East & South Asia (MESA) region. This rebound occurred after a US-Iran agreement on June 17, leading to a sharp reduction in regional capacity deficits, especially on crucial trade routes.
For freight forwarders and operations managers, the persistent elevation in air cargo rates suggests continued strong demand or constrained capacity in other areas, despite the MESA region's recovery. While the increased capacity in MESA may offer some relief for shipments originating from or destined for that area, the overall global rate increase indicates that other factors are keeping prices high. Forwarders should monitor specific lane rates, especially those connecting to and from MESA, as increased capacity there could lead to more competitive pricing on those particular routes. However, the general market trend remains upward, impacting overall airfreight budgeting and planning.
