Air cargo rates appear to have temporarily settled down after a tumultuous period, with TAC Index only reporting a ”relatively modest” decline last week.

The latest statistics from TAC Index show that global airfreight rates declined 0.6% last week and are down around 5.3% compared with a year earlier.

In a market update, TAC said that the modest decline came despite the removal of capacity from the transpacific over recent weeks.

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