Air freight rates continue to fall in Q3 2023 as the market approaches ‘pre-pandemic’ pricing levels. As we approach peak season, use Ti’s Q3 2023 Air Freight Rate Tracker to understand key market dynamics, regional opportunities, and future rate expectations.
Air Freight Rate Tracker Q3 2023 – Key Data:
Global air freight rates continued to decline in Q2-23 and into Q3-23.
In August 2023 global headhaul rates averaged $3.29 per kg – a 45% drop vs August 2022.
Air freight volumes are down significantly compared to previous years, according to Ti’s Global Airport Volumes Index.
In June 2023, global volumes were down 7.0 points vs June 2022 and 13.0 points vs June 2021.
Southeast Asia and India have substantial potential for the market as they are currently experiencing sustained growth, and are not overly dependent on the US consumer.
New Ti data points to continued strong supply in the market.
Ti’s Air Freight Rate Tracker report provides an up to date view of rate expectations for the next year, quarter by quarter. Using current market data and surveys, the report tracks key metrics across demand, capacity, sentiment and cost leaders.
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