China-Europe airfreight rates firm as BAI30 gains 2% while Shanghai outbound slips 3.3%

Summary

TAC Index data for the seven days to 24 August show China-Europe airfreight rates firming while China-US rates eased, as the market adjusts to the EU's temporary EUR3 flat duty on low-value parcels introduced on 1 July. The Hong Kong outbound index BAI30 rose 2% week on week to sit 22.8% higher year on year, while Shanghai outbound BAI80 fell 3.3% but remained 18.5% up. The global Baltic Air Freight Index edged down 0.2% but stayed 21% above a year earlier.