At Freight Systems, we believe in keeping our customers up to date on the latest updates from WorldACD Weekly Air Cargo Trends for week 20.
Air cargo tonnages and rates from key Middle East and Asian origin markets remain highly elevated, particularly to Europe. This trend is driven by strong demand and disruptions to ocean freight services, resulting in limited capacity on key lanes and significantly higher rates on several major intercontinental routes.
Key Highlights
- Global Tonnages: Worldwide tonnages have increased by +2% in week 20, continuing the growth seen the previous week, after an initial drop at the start of May due to Labour Day holidays.
- Global Rates: Average global rates have remained relatively stable, rising slightly to US$2.48 per kilo. This is a +2% year-on-year increase and +40% above pre-COVID levels (compared to May 2019).
- Year-on-Year Tonnages: Global tonnages are up by +9% year-on-year, with significant contributions from Asia Pacific (+15%) and Middle East & South Asia (MESA) (+16%) origins.
Regional Focus
- Middle East & South Asia (MESA) to Europe: Average rates are more than double (+119%) their level from the same time last year. Tonnages from MESA to Europe have also increased by +31%, with Dubai showing a remarkable +148% growth, primarily due to strong sea-air cargo movement.
- Bangladesh and Sri Lanka: Tonnages from Bangladesh and Sri Lanka to Europe have seen significant year-on-year increases of +28% and +57%, respectively, in the last two weeks.
- Bangladesh to Europe: Rates in week 20 stand at $4.66 per kilo, nearly three times higher (+186%) than the same time last year.
- India to Europe: Despite a slight ease in the past two weeks, rates are still up by +163% year-on-year at $3.72 per kilo.
- China and Hong Kong to Europe: Tonnages from these regions have been up year-on-year by +23% to +47% in weeks 14 to 18, though growth has moderated to +19% and +10% in weeks 19 and 20 for China. Hong Kong to Europe tonnages remained robust, up by +31% year-on-year in weeks 19 and 20.
- Vietnam to Europe: Prices have been exceptionally high, exceeding $4 per kilo for most of the last eight weeks, representing a +120% increase year-on-year.
- Japan: The largest 2Wo2W tonnage increase among top destination markets (+16%) post-Golden Week holiday.
At Freight Systems, we are committed to navigating these challenges and ensuring the smooth delivery of your cargo. We continue to monitor these trends closely and provide you with the most reliable and cost-effective freight forwarding solutions. If you have any questions or need further assistance, please do not hesitate to contact us at info@freightsystems.com.
Thank you for your continued trust and partnership.
Regards
Team Freight Systems
