Global air cargo rates continued to strengthen in September, supported by steady demand and higher operating costs as the market moves into the traditional peak shipping season.

According to reporting from Air Cargo News, the Baltic Air Freight Index recorded another week-on-week increase, with global airfreight rates more than 20% above year-ago levels. Market activity across major trade lanes has remained steady, helping sustain pricing momentum. Industry confidence is also reflected in airline capacity planning observed Kim Ekstroem, Global COO, Air at Shipco Transport, as carriers are positioning networks around expectations of continued demand.

Demand is not the only factor influencing rate levels. Rising operating costs have also added upward pressure on airfreight pricing. According to reporting from the TAC Index market intelligence report, citing the IATA Jet Fuel Price Monitor, jet fuel prices were more than double year-over-year as of September 18. Higher fuel costs continue to place upward pressure on airline operating expenses, providing additional support for elevated freight rates.

Reporting from Air Cargo News said regional performances are uneven across global airfreight markets. Key export hubs including Hong Kong and Shanghai continue to post strong year-over-year gains, while rate movements across Southeast Asia, Northeast Asia, India, Europe, and North America vary by trade lane.

According to reporting by TAC Index, rates from China to Europe strengthened again on a week-over-week basis, while rates to the U.S. softened slightly. Despite the decline, Trans-Pacific rates remain substantially higher than year-ago levels. Similar trends are evident in ocean freight markets, where strong cargo volumes, disciplined capacity management, and ongoing operational disruptions across Asia continue to support Trans-Pacific demand.

In Europe, Frankfurt recorded a slight week-over-week decline although it remains well above last year’s levels, while London Heathrow saw a rebound, the TAC Index reported. In North America, outbound U.S. airfreight rates generally continued to strengthen, supported by steady export demand on key routes to Europe and China.

According to reporting from IATA, the near-term outlook for air cargo remains constructive, although rising costs and broader economic uncertainties continue to warrant close attention. “Looking ahead, the outlook remains broadly positive, supported by manufacturing activity, export orders, and global trade. However, higher fuel prices, geopolitical tensions and tariff uncertainty will need to be watched carefully,” said Marie Owens Thomsen, IATA’s Senior Vice President Sustainability and Chief Economist.

Source: Air Cargo News, Shipco, TAC Index, IATA