Air freight rates hit 2026 high, with Heathrow outbound up 23.4% year on year
Global air freight rates climbed sharply in the seven days to 9 November, with a UK hub among those recording gains, according to TAC Index data. The figures are relevant to UK manufacturers and suppliers that depend on air freight for components and finished goods.
The global Baltic Air Freight Index (BAI00) rose 6.6 percent over the week and is now 28.2 percent higher than a year earlier. This followed a slight fall in the previous week. Rates are at their highest level of 2026 and well above the two previous peak season highs.
Heathrow and European hubs
The index of outbound routes from London Heathrow (BAI40) gained 5.6 percent week on week, leaving it 23.4 percent up year on year. Rates were also mostly higher on transatlantic lanes from North America to Europe and the UK.
Outbound Frankfurt (BAI20) jumped 9.9 percent on the week, led by gains to the US and China, and is 48.1 percent higher than a year ago. European rates to the US rebounded after the previous week's dip, with sizeable gains on some routes to Brazil, India and the UAE. Some lanes fell, including those to China, Japan, Australia and South Africa.
Asia and North America
- Hong Kong (BAI30) rose 4.6 percent on the week and is up 29.2 percent year on year.
- Shanghai (BAI80) rose 5.7 percent on the week and is up 21.1 percent year on year.
- Chicago (BAI50) rose 21.9 percent on the week and is up 40.3 percent year on year, though still well below its highs earlier in 2026 during the early phase of the US-Iran conflict.
- Spot prices rose on all major lanes out of Hong Kong, Shanghai and Korea.
Rates on the busiest lanes to the US were slightly down from recent highs, though most major lanes out of China were up. From South East Asia, rates rose from Vietnam but were a little lower from Bangkok, where reports of backlogs are disrupting import and export volumes.
Crude oil and jet fuel prices have fallen since last week's US midterm elections, but TAC Index said this has yet to produce any apparent easing in rates. The market is heading into the busiest weeks of traditional peak season, ahead of Black Friday and Thanksgiving in the US and Christmas in Europe.
Source: Air Cargo Week · Image: Pixabay