Thursday, June 20, 2024
Air cargo shoots up 6.1% in September

Air cargo shoots up 6.1% in September

Air cargo shot up 6.1 per cent in September helped by unique factors such as the collapse of Hanjin marine shipping, the International Air Transport Association (IATA) says.

Volumes grew at the fastest pace since the US West Coast seaports strike in February 2015, and that September was helped by new export orders, as well as unique factors including the rush to replace Samsung Galaxy Note 7s and the collapse of Hanjin marine shipping at the end of August.

Load factors remain under pressure, at 43.7 per cent in September, but it was a year-on-year improvement of 0.6 percentage points.

IATA director general and chief executive officer, Alexandre de Juniac says though air cargo grew in September, world trade is at a standstill, but there is encouraging news out there.

“The conclusion of the EU-Canada Free Trade Agreement is good news for the economies involved and for air cargo. Growth is the way to overcome the world’s current economic challenges.”

“The EU-Canada agreement is a welcome respite from the current protectionist rhetoric and positive results should soon be evident. Governments everywhere should take note and move in the same direction.”

Africa saw the highest growth in September, at 12.7 per cent, followed by Europe at 12.6 per cent. Asia Pacific was up 5.5 per cent and North America grew 4.5 per cent. The Middle East saw its slowest growth since July 2009, up 1.2 per cent due to weaker conditions on Middle East – Asia and Middle East – North America routes. Latin America contracted 4.5 per cent with ‘within South America’ proving particularly weak, down 14 per cent.

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