International air cargo rates surge in anticipation of the busy season.

Global air freight rates increased by 3.2% in the week ending October 28, as reported by TAC Index, marking a 6% rise over the past year. The growth was primarily driven by significant gains in export routes from China to Europe and the U.S., with Hong Kong and Shanghai indices rising by 2.9% and 3.7% respectively. Despite a slight decline in rates from India, other regions like Vietnam and Bangkok saw increases. In Europe, London's outbound routes surged 8%, while Frankfurt's remained down 16.4% YoY. U.S. rates were mixed, rising to South America but declining to China.