At the end of a hot summer for air cargo
Global average air cargo spot rates of 2.68 USD/kg in August were boosted by the continuing imbalance between supply and demand.
According to Xeneta’s latest weekly analysis, last month's global cargo supply increased at its slowest ratio in 2024 to-date at 2% year-on-year, while global cargo demand continued its double-digit growth (+11%).
This uptick was further supported by an ocean-to-air shift due to Red Sea disruptions and e-commerce demand. E-commerce maintained its upward trend as the air cargo market carried on cruising towards its hotly anticipated peak season.
Niall van de Wouw, Xeneta’s chief airfreight officer: "This has been a busy summer, and now we’re at the threshold of Q4, it will be interesting to see what will happen and if all the anticipation of a red-hot peak season materialises." (ah)