Global Air Freight Drops 4% and Middle East Rates Jump 52%
Global chargeable air cargo volume fell 4% week-on-week while capacity remained flat, as rates rose 2% week-on-week and 27% year-on-year, with the Middle East and South Asia recording the highest increase at 52%.
Data from WorldACD reported a 4% week-on-week drop in global chargeable air cargo volume, while global rates rose 2%, according to Asian Aviation.
Global capacity remained unchanged for the third consecutive week, while year-on-year volumes increased 5% and rates rose 27% compared to last year.
The Middle East and South Asia region recorded the highest price increase at 52% year-on-year, while rates on the route from the region to the United States rose 70%, and the Asia-Pacific to the United States route increased 38%.
The figures indicate a slowdown in weekly demand while capacity remains unchanged, at a time when rates are rising annually on Middle East and Asia-Pacific routes, putting pressure on the cost of transporting goods to the region.
What Do These Terms Mean?
Chargeable Weight: The weight or volume used by the air freight company to calculate its price, whichever is greater.
Capacity: The available space on board aircraft to transport goods during a given period.
Year-on-Year: Comparing the current period with the same period of the previous year to measure actual change.
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