Monday, May 27, 2024
Air cargo tonnages and rates are both stabilising

Air cargo tonnages and rates are both stabilising

Global air cargo flown tonnages continue to remain stable in the last two weeks compared to the preceding two weeks, while the previously reported softening trend of the worldwide average rates seems to have halted last week, the latest figures from WorldACD Market Data show.

Looking at week 31 (August 1-7), worldwide chargeable weight decreased 3% compared with the previous week, and the average worldwide rate increased slightly, based on the more than 350,000 weekly transactions covered by WorldACD’s data and analysis of the main international air cargo lanes.

Read more: ‘Dark clouds’ hang over a slowing global air cargo market

Comparing the last two weeks with the preceding two weeks (2Wo2W), average worldwide rates decreased -1% while chargeable weight increased 1% and overall capacity remained stable.

Chargeable weight from Central & South America remain on a particularly negative trend, with a decrease of 7% to Europe and 6% to North America compared with the preceding two weeks. Middle East & South Asia outbound volumes show a strong continued increase at 11%, with the first half of July being impacted by the Eid Al-Adha holiday.

For the overall global market, the last two weeks showed a worldwide rate increase of 10% compared with last year, despite a chargeable weight decline of 9% and a capacity increase of 7%. Higher fuel surcharges continue to influence overall air cargo prices relative to their levels last year.

Picture of Edward Hardy

Edward Hardy

Having become a journalist after university, Edward Hardy has been a reporter and editor at some of the world's leading publications and news sites. In 2022, he became Air Cargo Week's Editor. Got news to share? Contact me on Edward.Hardy@AirCargoWeek.com

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