Last week, global air freight rates saw a slight decline, with the Baltic Air Freight Index down by 0.6% for the week ending June 9 and 4.8% year-over-year. Despite these reductions, the market remains relatively stable compared to last year, when rates surged due to e-commerce growth and lower jet fuel prices. Rates from major Asian hubs like Shanghai and Hong Kong fluctuated, with some increases to Europe but overall decreases to the U.S. In Europe, rates to Japan and the U.S. rose, while those to China fell. North America also experienced mixed results, with higher rates to Europe and South America but lower rates to China.

Source: https://www.stattimes.com/air-cargo/air-cargo-rates-drift-lower-tac-index-1355541