THE air cargo industry should expect a non-existent, or at best muted, peak season as rates and volumes continue to slide. September saw rates drop 19 per cent year on year out of Hong Kong to North America, while out of Shanghai they fell 42 per cent, according to the TAC Index, reports London’s Loadstar.. On Asia to Europe, rates fell 25 per cent from Shanghai and were flat from Hong Kong, but all lanes are still significantly – between 92 per cent and 175 per cent – above pre-Covid levels....