Air freight charges rise as disruptions in Gulf capacity continue.

Air cargo rates surged by 10% in week 11 due to ongoing disruptions from the Middle Eastern conflict, with average global rates reaching $2.67 per kilo. Despite a 4% increase in air cargo volumes, the overall tonnage is still down 7% year-on-year. Spot rates also rose by 12%, particularly from Middle Eastern origins, reflecting a volatile market influenced by limited capacity and rising fuel costs. Additionally, operational challenges continue as restrictions in the UAE affect flights, while jet fuel prices have nearly doubled compared to pre-war levels, prompting carriers to impose additional surcharges.