Air cargo rates hit 2026 highs as peak season intensifies

Dhaka: Global airfreight rates have climbed to their highest level so far in 2026 as the air cargo peak season gains momentum, according to the latest market data.

The Baltic Air Freight Index rose 6.6% in the first week of November compared with the previous week.

Data firm TAC Index said the rise reflects renewed tightening in the market ahead of the busiest weeks of the traditional peak season, including Black Friday and Thanksgiving in the US and Christmas in Europe.

It added that current rates are well above the highs recorded in the previous two peak seasons. On a year-over-year basis, rates have surged 28.2%.

The increase came despite falling jet fuel costs, which have been a key driver of airfreight rates this year. The IATA Jet Fuel Price Monitor showed that average prices in the week ending November 6 declined 6.5% week-over-week and 7% from a month earlier.

Among major East Asian hubs, rates from Hong Kong rose 4.6% week-over-week and 29.2% year-over-year. Shanghai posted gains of 5.7% and 21.1%, respectively.

Rates also mostly increased from other hubs such as Seoul, though outbound rates from Taiwan to the US edged down. Overall rates from China to the US slipped slightly from recent highs.

In Southeast Asia, rates increased from Vietnam but fell slightly from Bangkok, where reported backlogs have disrupted import and export volumes.

European rates rebounded strongly after transatlantic rates to the US dipped the previous week. Notable gains were also recorded on routes to Brazil, India, and the UAE.

Frankfurt outbound rates jumped 9.9% week-over-week, led by routes to the US and China, while London outbound rates grew 5.6%.

Transatlantic rates often rise at this time of year as airlines scale back passenger operations during the quieter winter season, reducing available belly capacity.

Rates were also mostly higher from North America, including transatlantic lanes to Europe and the UK, as well as routes to China and Korea. However, southbound lanes to South America did not see an overall increase.