Air freight rates seen on a downward trajectory

Air freight rates will likely continue to face downward pressure, said Xeneta Chief Airfreight Officer Niall van de Wouw. He noted that the recent drop is a reflection of declining sentiment and concerns, particularly among airlines, over what will happen once more stability returns to international trade and there is less of a push for the security of airfreight. Although the Trump administration announced a 90-day tariff reprieve in May, the news came too late to reverse the softening trend in freight rates, Xeneta reported. The global air cargo spot rate fell 4% year over year in April to $2.44 per kilogram — the first decline since April 2024. While China-US seasonal rates are also on a downward trend, by June 1, spot prices on the trade lane bounced back to $4.31 per kilogram, up 14% from its low point the week ending May 11, as per a report.