The global air cargo rates declined by a narrow margin during the week which ended on 5 August 2024, TAC Index stated in latest analytics on the air freight rates across the globe. As per the data analysis by TAC Index, the Baltic Air Freight Index declined by 1.2 per cent, though the calculated index for previous 12 months rose by 8.9 per cent. Geopolitical tensions such as Russia-Ukraine war, Red Sea crisis, Bangladesh crisis are majorly responsible for the increase in air freight rates globally. The demand is higher, and the logistic providers are facing major issues to meet the demand, thus the rates have remained on the higher side for a major part of first half in 2024.
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