During the week ending October 14, air freight markets experienced limited activity, with the global Baltic Air Freight Index dropping by 1.2%, though it remains up 5.4% year-on-year. Rates from China to the U.S. and Europe decreased slightly as factories resumed operations post-holiday, but spot rates began to rise in anticipation of peak season. In Hong Kong, outbound rates increased, particularly to Europe, while rates from Shanghai and several Southeast Asian countries saw minor declines. Conversely, European rates surged, driven by demand to the U.S. and Japan, despite a drop from Frankfurt. Rates from Chicago also fell significantly after a prior gain, reflecting a broader decline from the U.S. to various regions.

Source: https://www.stattimes.com/air-cargo/air-cargo-markets-quiet-ahead-of-peak-season-rally-1353486