Air Freight Rates Week of 13 April 2026: Transpacific Settles 9% Below March Peak, Asia–Europe Holds Steady
Spot air cargo rates moved on divergent paths this week as the market digested the first full month of post-de-minimis transpacific volumes, sustained Asia–Europe demand, and a modest dip in jet fuel. Here is the weekly summary for shippers and forwarders looking at May 2026 booking decisions.
Key movers this week (13–18 April 2026)
| Corridor | Spot $/kg WoW | Vs. end-March |
|---|---|---|
| China → US West Coast (PVG/HKG → LAX) | 3.85 (−4.7%) | −9.1% |
| China → US East Coast (PVG → JFK/ORD) | 4.60 (−3.1%) | −7.4% |
| China → North Europe (HKG/PVG → FRA/AMS) | 3.55 (−0.3%) | +1.2% |
| South Asia → North Europe (BLR/DEL → FRA) | 3.10 (+1.6%) | +2.9% |
| Intra-Europe general (LHR/FRA/CDG) | 2.40 (+2.1%) | +4.8% |
| Transatlantic westbound (LUX/FRA → JFK) | 2.85 (+0.7%) | +0.9% |
Rates are TAC Index-consistent Standard spot chargeable-weight equivalents.
What changed
Transpacific softens as de minimis dust settles. After the March spike, Shanghai–Los Angeles spot rates slid a further 4.7% week-over-week and are now 9.1% below the end-March peak. This is the first full month of operating under the new US tariff regime for low-value Chinese parcels; volumes have rebalanced toward Mexico and Vietnam origins, and the widebody capacity freed up is competing for remaining freight. The bottom looks close for now — Freightos’s carrier-yield indicator suggests carriers will defend the $3.50/kg floor on PVG-LAX aggressively.
Asia–Europe holds despite longer rotations. Middle East airspace reroutes continue to add 30–90 minutes to widebody flight times from East Asia to Frankfurt and Amsterdam. Carriers are absorbing the cost but are also protecting rate: HKG-FRA held at $3.55/kg this week, essentially flat. Expect continued volatility around the May Day window when Chinese factory shutdowns briefly lift capacity.
Intra-Europe general cargo up again. Road network congestion in Germany and the Benelux corridor is pushing marginal freight to air even on 400–600 km lanes. London and Paris intra-EU rates edged up 2.1% this week. This remains a small market in absolute terms but is now running at a 4.8% premium to end-March.
Jet fuel −2% but still elevated. IATA’s jet fuel monitor closed the week at $3.22/gallon, down 2.1% week-on-week but 38% above the trailing 12-month average. Fuel surcharges as announced by IAG Cargo, Lufthansa Cargo, and Cathay Pacific Cargo for May remain at April levels; expect June reviews.
What shippers should do this week
- Lock transpacific spot now for May. The $3.50/kg floor on PVG-LAX is a short-term opportunity — BSA protection at this rate is attractive for any committed volume.
- Do not assume Asia–Europe will follow transpacific down. The reroute cost is structural and Europe import demand remains firm.
- Price in a potential June fuel surcharge increase. Current softening may reverse if Q2 geopolitical tension persists.
- Use indicative quotes before purchase-order commitments. Rate movement of 5–10% within a single week is still common; last month’s quote is not a reliable reference. Use our air freight calculator or request a precise quote.
Carriers to watch in May
- Cathay Pacific Cargo — added second daily HKG–LAX freighter from 1 May; expect mild downward pressure on the route.
- Lufthansa Cargo — FRA–BLR frequency returning after Q1 reduction; India–Europe capacity up roughly 8% on the corridor.
- IAG Cargo — announced May fuel surcharge at €1.15/kg, down from €1.18/kg in April — a narrow but real saving.
- Emirates SkyCargo — DXB transshipment gaining share on Asia–Europe; shippers routing via DXB seeing 1–2 days faster transit than direct PVG–FRA.
Frequently Asked Questions
Are air freight rates going down in May 2026?
On transpacific lanes the trend is down, with PVG–LAX spot converging on a $3.50/kg floor. On Asia–Europe the trend is flat; rates are holding despite the longer routing. Intra-Europe edged up this week. Rates are decidedly not back to 2023–2024 norms on any major lane.
When will the de minimis impact stop moving the market?
Most forwarders and carriers expect a new equilibrium by mid-Q3 2026 as e-commerce supply chains fully re-flow to Vietnam, India and Mexico origins. Expect continued week-over-week volatility into June as carriers adjust freighter schedules.
Is it a good time to sign a long-term rate agreement?
Yes for transpacific (rates likely near cyclical lows); more cautious for Asia–Europe (risk of geopolitical tightening). Consider 3-month commitments with fuel adjustment clauses rather than 6–12 month flat contracts right now.
How do I benchmark my quotes against these rates?
The corridor spot figures above are indicative market averages. Actual quotes depend on commodity, service class, forwarder margin, and contracted capacity. A quote within ±15% of the indicative rate is competitive; anything outside ±25% warrants a second opinion.
Related reading
- Air Freight Booking Lead Times Stretch to 5–7 Days
- De Minimis Is Dead: $22 Billion Air Cargo Problem
- Middle East Disruption Drags Capacity Down 1%
- Use the air freight calculator
- Request an indicative quote
Sources: IATA Jet Fuel Price Monitor (week of 13 April 2026); Freightos Weekly Freight Update; TAC Index Global Air Freight Rates Report; carrier press releases — Cathay Pacific Cargo, Lufthansa Cargo, IAG Cargo, Emirates SkyCargo — April 2026.