Worldwide air freight rates decline for the third consecutive week, according to the TAC Index.

Air freight rates saw a continued decline last week, driven by lower jet fuel prices and reduced seasonal demand, as reported by TAC Index. The global Baltic Air Freight Index fell 2.5% in the week ending July 13, though it remained 20.4% higher than the previous year. Rates from key routes in China, South East Asia, and the US generally decreased, while some routes from northern Asia saw increases. European rates rose for transatlantic routes but dipped for destinations like China and Australia. Overall, the market remains susceptible to sudden rate fluctuations due to ongoing geopolitical tensions.