Air cargo spot rates from Western Europe to the US have bucked the usual summer lull, climbing unexpectedly in recent weeks. This unseasonal uptick comes despite abundant bellyhold capacity that typically accompanies the northern hemisphere’s summer passenger boom.
In the week ending 3 August, average spot rates from Western Europe to the US rose 3% from early July to USD 1.99 per kg. Among US destinations, DFW stood out, with rates soaring 27% to USD 3.06 per kg. ATL followed, up 18% to USD 2.58 per kg. But not all markets shared in the rally: rates to ORD, SEA and BOS posted noticeable declines ranging from high single digits to double digits.
The overall unexpected firmness in cargo rates may reflect a wave of frontloading by shippers circumventing policy uncertainty. With tariff negotiations in Washington still in flux and little clarity on sector-specific measures, precaution appears to be driving demand forward—well ahead of the usual year-end peak.
