Air freight prices rise as the busy season begins.

Global air freight rates rose last week as the peak season approached, with the Baltic Air Freight Index increasing by 0.5% for the week and 4.1% over the past month, despite a 1.6% drop compared to last year. Rates from China to Europe and the U.S. dipped slightly, influenced by lower rates from existing block space agreements, while spot rates increased. Hong Kong's outbound routes gained 1.6%, and European rates were stronger, especially to North America. U.S. rates also rose to Europe but remained lower to China.