Global air cargo rates are rising slightly, although spot rates have decreased, according to the TAC Index.

Global air freight rates saw a slight increase last week, with the Baltic Air Freight Index rising by 0.9% as of April 21, and up 4% year-on-year. This increase occurred despite falling spot rates, particularly on major routes from China to Europe and the U.S., raising concerns about potential declines in May due to higher U.S. tariffs. Hong Kong's outbound rates dropped by 0.9% week-on-week, while Shanghai's increased by 0.8%. Notably, European routes experienced significant gains, especially from Frankfurt and London Heathrow, while rates from the Americas showed mixed results.