Air Cargo

Airfreight rates dip on China holiday as peak season demand looms

Airfreight rates declined 2.1% last week following Golden Week festivities in China, when factory closures and reduced shipping volumes traditionally pressure pricing. The dip was marginal, however, with market fundamentals remaining robust ahead of peak season. Major e-commerce shippers and large product launch operators have already locked in capacity allocations. Additional major buyers are still seeking available space — a dynamic that could drive rates significantly higher. Jet fuel prices continue climbing, rising 3.1% in the week ending October 9 and up 112% year-over-year due to the Middle East conflict. Outside Shanghai, Asian rates moved higher across multiple lanes, including Taiwan, Japan-Europe and Seoul-US routes. Bangkok shipments also strengthened week-over-week. Overall, the Baltic Air Freight Index remains 24.3% above year-ago levels, driven by elevated fuel costs, geopolitical disruptions and strong transpacific demand centered on data center and semiconductor shipments.