PRESS ROOM

The U-Freight Group, which has a strong presence in the expedited international airfreight business, notes that mother nature appears to be helping to push up airfreight rates with the latest figures from the TAC Index showing that the overall Baltic Air Freight Index was up 4.6% in the week to November 20 compared with the previous seven days.

According to the Index, the increases were led by China as prices out of Hong Kong increased by 11.5% compared with a week earlier and are now down by 2.2% compared with a year ago.

Outbound Shanghai increased by 5.3% compared with a week earlier reducing its year-on-year decline to 1.3% led by double-digit gains to Europe.

Rates from both Hong Kong and Shanghai to the US are now comfortably above where they were a year ago, TAC said in its weekly round up, adding that overall rise was driven largely by some big moves out of China, with capacity seemingly impacted by various events including heavy snowfall in parts of North America, disrupting TransPacific traffic, plus volcanoes and earthquakes elsewhere in addition to the wars in Ukraine and Gaza.

Rest assured The U-Freight Group is working hard to overcome any operational issues caused by these events. For more information about our global air freight forwarding and logistics services, please contact your local U-Freight office.