Hong Kong Europe International Air Freight Rises by 22.3%

Despite the market entering a calm summer, air freight rates on major routes in Asia remained strong in June.

The latest data from the Baltic Exchange Air Cargo Index (BAI) shows that freight rates from 

Hong Kong to Europe and North America are still higher than a year ago and have slightly increased 

compared to May levels.

The average freight paid by freight forwarders from Hong Kong to North America in June 

was $5.75 per kilogram, an increase of 16.9% compared to the same period last year. 

The price has also increased from $5.53 per kilogram in May.

At the same time, shipping costs from Hong Kong to Europe increased by 22.3% year-on-year in June, 

to $4.56 per kilogram. In May this year, the average price of the transaction was $4.41 per kilogram.

Compared to May, prices in June tend to stabilize or even decrease because the summer is quieter, 

demand tends to stabilize, and the summer tourism season adds extra belly capacity.

Neil Wilson, editor of date provider TAC Index, explained in his monthly column for Baltic Exchange 

Communications, "The latest data confirms that due to an increase in summer passenger traffic, 

additional belly cargo capacity is being put into use, and the market remains surprisingly strong 

during the usually off-season of the year."