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Airfreight rates edge up in September

Airfreight rates edged up in September as the air cargo market headed towards its fourth-quarter peak season. Figures from data provider TAC Index show that rates on two key trade lanes - Hong Kong-North America and Hong Kong-Europe - both increased during the month. Average rates - combined spot and contract prices - paid by forwarders from Hong Kong to North America increased slightly to $7.02 per kg during the month compared with $6.98 per kg in August. From Hong Kong to Europe, there was an increase from $4.58 per kg to $4.80 per kg. The increases reflect the start of a gradual increase in demand at this time of year as companies start to add to their inventories ahead of the fourth-quarter peak season. Compared with last year, rates from Hong Kong to North America were up 31% while from Hong Kong to Europe they were up 8.8%. The higher rates than a year ago reflect higher jet fuel prices as a result of the Middle East conflict. Rates to North America grew ahead of those to Europe as AI-related infrastructure demand has boomed to the US this year. Meanwhile, volumes from Asia to Europe have come under pressure due to the European Union's introduction of a charge of €3 per package for shipments valued at less than €150, targeting e-commerce. Early data for the first few days of October appears to show that the rate increase accelerated as the fourth quarter got underway and ahead of the Golden Week celebration in China that runs from 1 to 7 October. The global Baltic Air Freight Index calculated by TAC jumped by 5% over seven days to October 5, leaving it up 25.5% from 12 months earlier. Rates are higher than a year-ago due to the US-Iran conflict and the impact on jet fuel prices, as well as buoyant demand on certain trade routes fuelled by data centre-related volumes. "That sort of jump was not unexpected after rates had been edging up slightly throughout September, but far from keeping pace yet with surging jet fuel prices," TAC said, pointing out that jet fuel prices are up more than 100% year on year. The index of outbound routes from Hong Kong last week rose 3% week on week to leave it ahead by 22.3% year on year, TAC said in its weekly market update. Outbound Shanghai gained 2.2% week on week to leave it at 18.3% year on year. "Rates elsewhere out of East Asia were more mixed, with gains week on week out of Japan and Seoul - but falls on lanes from Taiwan," TAC said. "Likewise out of Southeast Asia, with gains from Vietnam - though not on lanes from Hanoi to Europe - and falls on lanes from Bangkok. BAI Spot from India was also falling back slightly over the week - though overall rates from India were a little higher again."

Growing trade driving congestion and delays at West African ports

Strong volume growth along the West African coast growth is proving the double-edged sword some had warned of, with many of the ports that had been reaping rewards now subject to heavy and intensifying congestion. Ghana, Guinea, and Sierra Leone are among the countries most affected by delays sprouting up along the coast, all three rapidly approaching similar volumes to those handled in the entirety of 2025. Forwarders active on West African trades told The Loadstar they too had observed the congestion hobbling many of the ports' ability to function effectively, one expressing concern over looming temperature-controlled cargo due for delivery. A forwarder with volumes destined for Temam in Ghanam told The Loadstar: "CMA CGM has announced a congestion charge of $400 per teu for these shipments. This means an additional cost of $800 for each 40ft refrigerated container." Hapag-Lloyd has also announced a $250 surcharge on reefer shipments destined for Tema, which became applicable for shipments sailing as of yesterday, adding to the worries of cargo owners. The carrier has warned customers to expect delays of 10 days for discharging and loading goods, although Portcast claims that the situation at the Ghanian port may be improving, average waits having fallen below the four-day average, an improvement on last week. Instead, it singles Conakry and Freetown as the ports to be concerned about, congestion delays at both exceeding 10 days - a rapid deterioration at the Sierra Leone capital's gateway saw delays increase by four days, week on week, and by more than a day at Conakry. Only a month ago, Sierra Leone Ports and Harbours Authority director general Yankuba Askia Bio claimed a "decongestion" effort, led by multiple stakeholders, had succeeded, resulting in Freetown being removed from a list of congested African gateways. Efforts at Conakry to mitigate the worst of the congestion have seen trucks operating around the clock at Guinea's main gateway to keep cargo flowing, and ensure the backlog does not worsen. While at Tema, the Ghana Shippers' Authority said last month it was working with the port authority, shipping lines, and terminal operators to increase vessel calls to accelerate empty-container evacuation. But there is growing recognition across the sector that against a backdrop of surging volume growth, the ports are delaying what will inevitably be needed if they are to avoid a catastrophic collapse in supply chains - investment and expansion in infrastructure.

My Freighter continues fleet expansion with another Boeing 767

Fast-growing cargo airline My Freighter has continued the expansion of its fleet with the addition of another Boeing 767 aircraft. The Uzbekistan-based cargo airline said the 55-tonne 767-300 capacity aircraft (UK67023) will bring more flexibility and allow more options for imports and imports and exports through its Tashkent hub, as well as stronger connections between Asia and Europe. "Every aircraft we add strengthens our ability to connect Central Asia with the markets that matter to our customers and partners," the airline said. The aircraft is named after Zahiriddin Muhammad Bobur, a native of Andijan, poet, statesman and founder of the Mughal Empire. According to Planespotters.net, the airline currently operates a fleet of 10 767 freighters. The Centrum Holding-owned carrier also has a Boeing 757 freighter. The carrier operates flights between Central Asia, Asia, the Indian Subcontinent, the Middle East, Europe and North America. The airline has been increasing its operations between Asia and Europe and most recently added extra flights to Liege. Starting in July, the carrier upped flight frequencies to the Belgian hub to daily. Also, in March, Tashkent-hubbed My Freighter began operating new routes between Asia and Frankfurt Airport in Germany. And in January, My Freighter also announced it would add scheduled cargo flights from Hong Kong International Airport to Maastricht Aachen Airport in the Netherlands via its main hub at Tashkent. Interline partnerships, most recently with Air Canada and Singapore Airlines, are also helping My Freighter grow its network, while it has added a GSA partnerships with Group Concorde.