During the week leading to October 7, air freight markets experienced typical quietness due to China’s Golden Week holiday, with the Baltic Air Freight Index dropping by 2.3%, resulting in a 4.2% annual gain. Rates from Hong Kong and Shanghai declined slightly, while outbound routes from Europe saw significant drops, particularly from Frankfurt, which fell by 10.6%. Conversely, rates from Chicago surged by 19.3% due to rising demand to Europe and Southeast Asia, despite overall declines from the U.S. being limited by news of a dock workers’ strike.

Source: https://www.stattimes.com/air-cargo/air-freight-rates-steady-during-golden-week-holiday-tac-index-1353432