Air freight rates have started to come down, Air Cargo News reported on June 30, 2026, citing Baltic Air Freight Index figures based on TAC Index data. Average global air freight prices fell 5% last week compared with the week before. They are still 31.3% higher than a year ago, and above the peak-season rates recorded in each of the last three years.
TAC attributed the weekly decline to the deal reached earlier in June to extend the ceasefire in the Gulf between the US and Iran, and to a continuing fall in jet fuel prices. According to IATA’s jet fuel price monitor, cited in the report, jet fuel stood at $116 per barrel last week, against $145 per barrel in May and more than $200 at the height of the conflict. Rates were lower on almost all lanes, TAC said, including a 6.6% fall from Hong Kong and a 4% fall from Shanghai.
The transpacific is easing more slowly than Asia–Europe. From Hong Kong to North America, the average rate for June rose to $7.71 per kg from $7.37 per kg in May, according to TAC data, 54.5% higher than a year ago. Contacts cited in the report suggested rates softened as the month went on and ended closer to $7.40 per kg. From Hong Kong to Europe, the June average fell to $5.45 per kg from $5.71 per kg in May, still 25% above last year, and ended the month nearer $5.10 per kg.
What it means for shippers
- The relief is real but partial. A 5% weekly drop still leaves prices almost a third above last year, so air freight budgets set before the conflict are unlikely to hold yet.
- Ask for current numbers. Rates moved within the month, so a quote from early June may already be out of date. Ask your forwarder to re-quote close to the ship date.
- Check the fuel line. Jet fuel has fallen a long way from its peak. Ask your forwarder or carrier whether the surcharge on your quote reflects current fuel prices.
- US-bound freight costs more to fly. Hong Kong–North America ran well above Hong Kong–Europe in June. For cargo that is not urgent, compare air with ocean before booking.
- Keep the ground leg tight. Storage charges at the airport can cancel out a better air rate. Arrange pickup from the airline terminal or container freight station (CFS) as soon as the freight is released.
Go Trucking Services handles air freight and LAX CFS pickup and delivery for shippers in Greater Los Angeles — see Air Freight and Drayage, or request a quote on the home page. For freight that can travel by sea, see Ocean Freight.
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Image: Olivier Cleynen, via Wikimedia Commons (CC BY-SA 3.0).
