Global air freight rates showed slight improvement last week, with the Baltic Air Freight Index rising by 1.5%, remaining down 3.6% year-on-year. The ongoing trade tensions and high tariffs between the U.S. and China have led to the cancellation of many block space agreements, although a reduction in Transpacific freighter capacity has mitigated this. Following a new trade deal, both volume and capacity are expected to increase as companies rush to restock. Rates varied regionally, with increases to the U.S. from China and the opposite trend from India to Europe.

Source: https://www.stattimes.com/air-cargo/air-freight-rates-move-up-after-recent-declines-tac-index-1355268