ID 389091648 | Air ©
Russ Heinl | Dreamstime.com
Surging jet fuel prices have added to the upward pressures that have seen global airfreight rates climb above the highs of the previous two peak seasons, as the industry enters its busiest period of the year.
Figures from the latest TAC-compiled Baltic Air Freight Index and World ACD indicate that rates have been rising by between 4% and 4.7% over the past fortnight, up some 26% compared with the same period of 2025.
Covering the period from 12-18 October, WorldACD noted chargeable weight and available capacity was up 2% week on week, with carriers having opted to expand freighter operations following two consecutive weeks of reductions.
TAC said the index had already surpassed the highs recorded over the previous two peak seasons in the run-up to both Thanksgiving and Christmas, with jet fuel prices having a part to play after more than doubling year on year, up 113%, said IATA.
The index noted that together with fuel increases, disruption thrown up by conflicts in Europe and the Middle East was creating a floor for airfreight rates, and that carrier s were not prepared to sink beneath that in a dash for volumes.
On a market by market basis, there is one clear frontrunner – Asia-Pacific exports to the US up 10% week on week, with Europe-bound volumes climbing 13%, while Hong Kong-US and mainland China-US up 27% and 18%, respectively.
Annually, the performance looks strong too, with Asia-Pacific volumes to the US 14% higher than a year ago, helping to drive rates on the trade up 41% year on year, and 6% week on week, according to WorldACD.
Globally the situation looks fairly rosy too, with rates 30% higher than they were in 2025, but the indices also show that there is one region struggling for the same sort of momentum, as Asia-Europe rates could only muster a 1% week-on-week increase.
That may not be too surprising, given that Asia Pacific-Europe volumes are dwindling some 16% lower than they were this time last year, despite the weekly recovery following China’s Golden Week holiday.
WorldACD put some of the weakness down to EU measures aimed at curbing low-value ecommerce imports, although the divergence also suggests that the current rate environment is not being driven by a uniform increase in global demand.
But, with the general upturn coinciding with carriers and forwarders prepping for a traditional year-end peak, forwarders will need to determine whether increases are being driven by underlying demand, or tighter capacity on particular routes.