Air cargo rates in Asia continue to be elevated, even with the typical seasonal decline.

Global air cargo spot prices are over 20% higher in the second week of 2025 compared to the previous year, despite a seasonal decline. Average worldwide spot rates decreased by 3% from the prior week to $2.76 per kilo, yet remain up 22% year-on-year. Asia Pacific to US rates fell by 5% but are still 27% higher YoY. Rates from the Middle East and South Asia (MESA) have slightly declined but are up 36% YoY. Elevated air cargo rates from MESA may persist due to ongoing geopolitical threats affecting shipping routes.