Volumes and rates from Mesa and Apac still rising
According to World ACD’s weekly analysis, average air cargo rates in May of USD 2.78/kg from Middle East and South Asia to global destinations were up +47%, year on year (yoy), with tonnages +17%. Bound for Europe, the month's average spot rate of around USD 3.35/kg was more than double the level of May 2023, with the average spot rate in week 22 (27 May - 2 June) up by +128%, yoy.
Spot prices from India (USD 3.78/kg, +160%) and Bangladesh (USD 4.38/kg, +189%) to Europe are boosting these rates. Including contract rates, overall average rates in May from Mesa to Europe were up by +77%, yoy.
Asia Pacific origins recorded a +21% rise in tonnages in May, yoy – their highest yoy growth since January – while rates from these origins recorded their first significant yoy full-month rise in 2024 (almost +12%). (ah)