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While much has been made of the impact of the peak season from Asia on sea freight rates, arguably the line’s capacity management is a bigger driver, with rising rates to the US and attempts to recover revenue from Asia to Europe and the Med.
The quiet summer period continued in Airfreight markets during July, with TAC Index data showing the overall Baltic Airfreight Index up +2.9% in the final week of July, leaving the index up +1.2% on the month – though lower some -46.2% over the previous 12 months.
Despite the easing of road freight demand, the supply pressures remain, with driver shortages eroding capacity, and, while fuel costs have fallen from their 2022 high, they still remain elevated compared to 2021, both of which means rate falls will be limited
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