Written by Neil Wilson Despite a well-anticipated memorandum of understanding (MoU) to end the war in the Middle East between the US and Iran, global air freight rates continued to grind higher through most of June. The global Baltic Air Freight Index (BAI00) calculated by TAC Data gained a further +5.8% over the four weeks to June 22, leaving it ahead by some +37.3% from 12 months earlier. And despite a subsequent fall of -5.0% in the week to June 29, rates remained higher by +31.3% year-on-year.