Air cargo rates rebound ahead of Lunar New Year
Average rates from Asia Pacific origins led the way with a WoW increase of 7% in week 4 (Jan 20-26).
Average global air cargo rates have edged back upwards in the final full week before Lunar New Year.
Average full-market worldwide prices gained four percent in week 4 (January 20-26) to $2.52 per kilo, around +11 percent higher than this time last year, according to the latest figures and analysis by WorldACD Market Data.
"Unsurprisingly, rates from Asia Pacific origins led the way with a week-on-week (WoW) increase of six percent, based on the more than 500,000 weekly transactions covered by WorldACD’s data."
Tonnages from Asia Pacific origins regained another two percent in week 4, taking them six percent above their levels this time last year, although they remain around eight percent below the peak levels reached in week 49 last year, the update added. "Average spot rates from Asia Pacific rose by around three percent WoW to $3.78 per kilo and a year-on-year gain of +24 percent – although YoY comparisons are complicated by the timing of Lunar New Year, which comes relatively early in 2025 on January 29 compared with February 20 in 2024."
Total worldwide tonnages were broadly stable in week 4 (up one percent WoW), after regaining +28 percent and +11 percent in weeks 2 and 3 following their seasonal end-of-year slump. "That’s around seven percent below their average weekly level in December, slightly above their average weekly level last October, and similar to the level this time last year."
Colombia and Ecuador lead flower exports
Despite the brief dispute this month between Colombia and the U.S., Colombian flower exports have continued to make up a big part of air trade between CSA and North America in the first four weeks of this year. "Analysis by WorldACD indicates that 98 percent of the flower exports from CSA to North America originate in Colombia (61 percent) and Ecuador (37 percent). Indeed, 77 percent of all Colombian air exports and 63 percent of all Ecuador air exports in this period have been flower exports – underlining the importance of access to the North America market for Colombia (and Ecuador)."
