Global Air Freight Rates Ease After Middle East Demand Drives March Surge
Global air freight rates declined in the first week of April after a significant surge in late March. This recent spike was primarily fueled by strong demand from the Middle East and South Asia, linked to the Red Sea shipping crisis and a rush for e-commerce cargo. The Baltic Air Freight Index (BAI) registered a 4% week-on-week drop, with the largest decreases seen on routes from Hong Kong and the Middle East to Europe. Despite the easing, rates remain substantially higher compared to the same period last year, reflecting ongoing strain on global logistics.
Official Source: https://www.stattimes.com/air-cargo/global-air-freight-rates-ease-after-middle-east-driven-surge-1359208
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