After a recent rise in mid-June, global air freight prices slid a little again last week, according to the latest data from TAC Index, a price reporting agency (PRA) for air freight.

In its Intelligence Update on July 4, TAC Index said the overall Baltic Air Freight Index (BAI00) fell -2.4% in the week to July 3, taking its year-on-year decline to -49.4%. 

It added that rates were lower out of most major centres, including outbound Hong Kong (BAI30) — which had been holding up well during the previous month due to strong e-commerce demand.

TAC Index said Hong Kong was down -3.4% WoW to take its year-on-year (YoY) fall to -41.1%, with rates lower both in Europe and North America.

It added that the Shanghai (BAI80) index was down -4.7% WoW — and even though rates to Europe were down only a fraction, its YoY change has now plummeted to -56.7%. 

Out of Europe, rates from London (BAI40) were flatter, with a gain of +0.2% WoW, leaving the YoY change at -52.1%, but from Frankfurt (BAI20) fell by -7.6% WoW, with prices softer both to the US and to Asia taking the YoY change to -53.0%.

Out of North America, TAC Index said rates to Europe and Asia bounced after recent falls leaving the outbound Chicago (BAI50) index at -45.7% YoY.