GLOBAL air freight rates rising on the TAC Index out of China on lanes to Europe and North America, reports Mumbai's Stat Trade Times.

"The global Baltic Air Freight Index calculated by TAC was up 2.3 per cent over the week to March 17, leaving it ahead by +4.3 per cent over the past 12 months.

Sources said rates were generally being pulled up by rising spot prices, particularly on Transpacific routes.

Rates out of China were rising in the last week on lanes to Europe and North America, leaving them at similar levels to 12 months ago, the update added.

"The index of outbound routes from Hong Kong was up 1.2 per cent, but higher on nearly all major lanes, leaving it up by some 7.9 per cent."

Elsewhere from Asia, rates were more mixed with falls on lanes to Europe from Vietnam, Bangkok and Seoul and gains on lanes from India to Europe and the US as well as from Vietnam to the US.