Westbound transatlantic air cargo in January
Despite high inflation and falling US retail sales, westbound air cargo volumes between Europe and North America rose 6% year-on-year in January but overall global air cargo demand continued to fall, down -8%, as an earlier Chinese New Year and economic headwinds subdued other major lanes, according to the latest weekly market intelligence from Clive Data Services, part of Xeneta.
The Europe to North America corridor stood out in terms of growth in January, although its average spot rate of USD 3.09 per kg edged down 4% from last month.
However, compared to the shrinking volume on ex Apac and inbound Europe trades, transatlantic westbound demand remained buoyant. But growth has decelerated dramatically from the three-digit growth in rates of +124% in April 2021 when compared to the pre-pandemic level. (cj)