Global demand remains stable – regional fluctuations
According to World ACD Market Data, global air cargo markets remained flat in week 10 (3–9 March), showing a 2% year-on-year increase in total tonnage.
The Asia-Pacific region led growth with a 5% week-on-week rise, recovering to pre-Lunar New Year levels. In contrast, volumes from Central and South America declined (9%), as they did from Europe (–3%) and North America (–2%).
Average worldwide airfreight rates rose by 5% y-o-y, reaching USD 2.33 per kg, while spot rates remained stable at USD 2.55 per kg, despite a slight 1% drop from the Asia Pacific region.
Tonnages from Dubai to Europe fell sharply by 15% w-o-w, contributing to a 12% decline in spot prices to USD 1.88 per kg, possibly due to the start of Ramadan on 28 February. Despite some rate declines, spot rates from the Asia-Pacific region to Europe remain 20% higher y-o-y, with notable increases from China (+14%) and Hong Kong (+22%). (ah)