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Airfreight rates reach 2026 high on peak season demand

Global airfreight rates continued to increase last week and are now at their highest level of the year as the air cargo peak season continues. The latest figures from the Baltic Exchange airfreight index show that last week the overall Baltic Air Freight Index was up 6.6% compared with the previous week. TAC Index said that the increase reflected "a renewed hardening in rates as the market heads into the busiest weeks of traditional peak season - ahead of Black Friday and Thanksgiving in the US and Christmas in Europe". TAC said that rates were at their highest level so far in 2026 and "well above the previous two peak season highs". Compared with last year, rates are up 28.2%. The rate increases come despite recent drops in the cost of jet fuel, which has been one of the drivers of airfreight rates this year. The IATA Jet Fuel Price Monitor shows that in the week ending 6 November, average prices are down 6.5% compared with the prior week and down 7% against a month earlier. TAC said that rates out of Hong Kong were up 4.6% week on week and 29.2% against last year, while from Shanghai prices were up 5.7% on a week earlier and 21.1% versus last year. "Rates were also mostly on the rise from other big hubs in East Asia like Seoul, though slightly lower WoW from Taiwan to the US. From Southeast Asia, rates were rising from Vietnam but a little lower from Bangkok - amid reports of backlogs there disrupting import and export volumes." The data firm added that rates from China to the US were down slightly from recent highs. "From Europe, there was a big rebound after the previous week's dip in Transatlantic rates to the US, plus chunky gains on some other routes including to Brazil, India and the UAE," TAC said. Frankfurt outbound was up 9.9% week on week, led by gains to the US and China, while London outbound was up 5.6%. Rates on the transatlantic can increase at this time of year as passenger operations are reduced for the quieter winter season. "Rates were also mostly higher out of North America including on Transatlantic lanes to Europe and the UK as well as to China and Korea - though not overall on southbound lanes to South America," TAC said.

Return to Suez transits raises congestion fears at Red Sea ports

Evergreen is planning eight ad hoc Suez Canal and Bab-el-Mandeb Strait transits for its Far East-Europe services, according to Alphaliner, alongside four sailings aimed specifically at the Red Sea market. The Taiwanese carrier's 16,556 teu Ever Eon made its first Suez transit last weekend, on its way from Rotterdam to Singapore on the Ocean Alliance's China Europe Shuttle (CES) service. Three more eastbound CES transits are planned this year, and Ever Even is scheduled to make a westbound passage, reaching Suez on 12 December. Evergreen is also preparing to restore direct Far East-Red Sea connections through its ad hoc OGRD service, deploying vessels of 7,024-9,466 teu, on a rotation including Jeddah, Sokhna, and Aqaba. The first vessel, the 7,024 teu Ever Superb, is scheduled to depart Qingdao on 14 November. Meanwhile, Emirates Shipping Line is launching a fortnightly Central/South China-Red Sea (CRC) service, using three vessels of 2,500-4,900 teu on a fortnightly frequency, serving the same three Red Sea ports of Sokhna, Aqaba, and Jeddah, from Shanghai, Ningbo, and Nansha, with the inaugural sailing scheduled to leave Shanghai on 13 November. The overlapping port choices highlight how the return of direct services could concentrate additional cargo at selected gateways, rather than distributing traffic evenly across the region. However, the capacity implications could differ considerably between terminals. DP World reported that its South Container Terminal at Jeddah handled more than 221,200 teu in July, its highest monthly throughput since operations began in 1999, following a 79% year-on-year increase in first-half volumes. The operator has also invested in additional handling equipment and is expanding capacity, preparing for further growth. Nevertheless, Jeddah has faced operational pressure. In its September update, Expeditors reported congestion at the port, with landside delays of 10-12 days after discharge. The addition of further services could test terminal capacity, while ports receiving fewer calls risk losing traffic and utilisation. Meanwhile, other major carriers are also progressively restoring longer-haul services through Suez. Maersk and Hapag-Lloyd have confirmed that their ME1 service will return to the canal, joining six other Gemini Cooperation services already using the shorter route. But the transition could create a second congestion risk at North Europe ports. Flexport warned, in its November European freight market update, that vessels taking the shorter route could arrive alongside ships still sailing around the Cape of Good Hope. It forecasts arriving vessel capacity at 131% of normal levels in Week 47, with around 40% of that capacity arriving via Suez - the forwarder identified 31 containerships scheduled to arrive via Suez that week, with 61 coming via the Cape. Flexport considers arrivals exceeding 120% of normal capacity a congestion risk, with at least three weeks forecast to breach that threshold between mid-November and January. Rotterdam is already under pressure, with average container dwell times reaching 3.37 days in Week 42, and yard utilisation running at between 80% and 90%, according to Flexport. While the return to shorter Suez routings could cut transit times by seven to ten days, they risk shifting operational pressure between ports rather than eliminating delays across the supply chain.

Taipei air cargo operations battle to clear backlogs

Air cargo operations at Taiwan's Taoyuan International Airport (TPE) are facing delays as handlers battle backlogs caused by Typhoon Champi, which struck Taipei towards the end of October, and heightened AI-related demand. The tropical cyclone battered Taiwan on 22 and 23 October, with winds reaching around 185 miles per hour. According to freight forwarder Expeditors, freighter operations were suspended from 23-25 October as a result. It is estimated that more than 207 freighter flights were cancelled, creating a "substantial import backlog". Expeditors said that cargo terminals remain congested and freighter delays are expected throughout the fourth quarter while terminals clear the residual backlog. The company added that cargo volumes at the airport were already elevated as a result of increased exports of AI servers, semiconductor equipment, and related products, and increased imports of semiconductor equipment, raw materials, and server parts. This demand means that handlers at the airport are already handling an additional 80-90 freighter flights per month on top of regular commercial flights. There are also dolly (flatbed trailer) and manpower constraints. For exports, Expeditors said that shippers should expect longer cargo handling and acceptance lead times, while for imports there were delays to cargo breakdown and availability. "Further freighter cancellations remain possible while terminals clear the backlog," Expeditors said. "China Airlines freighter services have experienced the most disruption, including cancellations and delays," it added. "China Airlines, EVA Air, and STARLUX Airlines have advised that cargo handling and export processing may take longer." Seko Logistics has also reported cargo congestion at the airport. "Increased cargo volumes at TPE are placing pressure on ground handling resources, potentially affecting shipment processing and departure schedules," the company said. "Selected China Airlines flights, including US-bound freighter services, have also been cancelled." It added that China Airlines, EVA Air and STARLUX Airlines have advised that increased import cargo volumes at TPE are placing pressure on manpower, cargo dollies and handling capacity. "Cargo handling may be delayed, export processing may take longer and planned departure schedules may change," it warned. Both companies said that customers should share forecasts, book space and flag sensitive cargo as early as possible.