Global air freight rates have stabilized following significant recent hikes.

Global air freight rates remained stable last week following significant increases over the prior two months, with the Baltic Air Freight Index rising 0.4% for the week ending May 11, up 35.8% year-on-year. While spot rates from Hong Kong and India decreased, Transpacific rates from South Korea to the US rose. European rates softened overall but saw mixed trends, with declines to the US and gains to India and South Africa. Conversely, US rates increased sharply, particularly from Miami, with the Chicago index climbing 14.1% week-on-week.