Global air freight rates decreased by 0.2%, yet they are still 16.9% higher compared to the same time last year.

Global air freight rates saw a slight decrease of 0.2% for the week ending August 10, although they remain 16.9% higher than the same time last year. The decline was attributed to easing crude oil and jet fuel prices, influenced by potential agreements between the US and Iran. While rates from China to Europe and the US were mixed, outbound routes from Hong Kong and Shanghai showed varied trends. Rates also increased from Southeast Asia to the US, while Europe experienced higher rates to the US and South Africa. However, rates from the US fell to Europe and Asia.