Global air freight rates continued to decline, with the Baltic Air Freight Index dropping 4.5% for the week ending May 5, resulting in a year-on-year decrease of 5.7%. While rates from China to Europe have slightly increased, those to the U.S. have fallen. Specific declines include a 3.3% drop from Hong Kong and a 2.4% drop from Shanghai. Rates from Frankfurt decreased by 5%, and London’s Heathrow saw a significant 10.1% decline. U.S. rates fell to Europe and South America but were stable for China, with Chicago’s outbound routes down 10.1% week-on-week.

Source: https://www.stattimes.com/air-cargo/air-cargo-rates-decline-across-major-lanes-tac-index-1355196