Air freight rates increase again as worldwide shipment volumes decrease in the 15th week.

In week 15, global air cargo rates rose despite a 6% decline in tonnages, influenced by Easter holidays and increased bellyhold capacity in Gulf markets. Average spot rates rose 3% to $3.76 per kilo, 37% higher than last year. North America saw a 6% increase, while MESA rates dipped 1% but remained 66% above last year. Global cargo capacity increased by 1% but MESA's was still 20% lower YoY. Despite a ceasefire between the U.S. and Iran, concerns over inflation and fuel costs could lead to further rate increases, keeping rates elevated in the near term.