GLOBAL airfreight rates fell last week according to the latest data from TAC Index, the market leading price reporting agency.

The global Baltic Air Freight Index (BAI00) calculated by TAC was lower by some 4.1 per cent in the week to February 24 - though despite ongoing fears about the impact of new tariffs and potential trade wars it is still well ahead by some 14.8 per cent from one year ago.

This leaves air freight rates still looking comparatively much healthier than container shipping rates, which have seen some big recent falls, according to Surrey, UK's Air Cargo Week.

Rates out of China were down during the week both to Europe and to the US.

Sources said spot rates were continuing to trend lower but the index of outbound routes from Hong Kong (BAI30) was lower by only 1.4 per cent week on week, and still ahead by a healthy 19.5 per cent year on year.

Outbound Shanghai (BAI80) was also lower by 3.7 per cent week on week, but also still well ahead by exactly the same 19.5% year on year. Elsewhere from Asia, rates were out of India were lower both to Europe and to the US. Vietnam rates to the US were also lower, but higher again to Europe.

Out of Europe, overall rates were rising both to China and to the US, though a little lower to Japan.

The index of outbound routes from Frankfurt (BAI20) dropped a chunky 15.0 per cent after some big recent gains, though still ahead by 9.2 per cent year on year. Meanwhile, outbound London Heathrow (BAI40) gained 5.2 per cent week on week, leaving it at a similar gain of 8.2 per cent year on year.

From the Americas, the index of outbound routes from Chicago (BAI50) was lower by 4.6 per cent week on week, though still narrowly up year on year by 2.0 per cent. Overall rates from the US were falling to all major destinations, including to Europe and China as well as to South America, though mostly still in positive territory year on year.