Worldwide air freight rates decline following a surge influenced by the Middle East.

Global air freight rates experienced a slight decline last week, following significant increases due to the Middle East conflict, as reported by the TAC Index. The Baltic Air Freight Index (BAI00) fell by 4.9%, though it remains 30.4% higher compared to last year. Jet fuel prices dropped around 10% in early May, yet are still about 80% above previous year levels. Rates varied across regions, with declines from Hong Kong and India but increases from Vietnam and Bangkok. Overall, rates show mixed trends across various routes but are generally higher year-on-year.