Air cargo tonnages, rates stable amid geopolitical worries: WorldACD

Worldwide air cargo markets show a flat trend looking at the latest demand and pricing levels, slightly above the levels last year amid a fast-evolving geopolitical and trade environment, according to the weekly data from WorldACD Market Data.

"Total worldwide tonnages in week 10 (March 3-9) were stable, compared with the previous week, and two percent higher year on year (YoY). Chargeable weight flown from Asia Pacific origins regained a further five percent week on week (WoW), taking them back up close to their levels in mid-January, just before the peaks and troughs of the Lunar New Year (LNY) period. Those increases in tonnages from Asia Pacific origins were balanced out by falls in volumes from Central & South America (down nine percent WoW) and Europe (down three percent)."

Spot rates stable
Average worldwide spot rates in week 10 of $2.55 per kilo were also stable WoW despite a one percent drop from Asia Pacific origins, the update added. "Compared with week 10 last year, they are eight percent higher, with Asia Pacific spot prices up +11 percent YoY."

"Average spot rates from China and Hong Kong, combined, to the USA remained stable WoW at $3.78 per kilo as tonnages continued to build back in week 10 close to their level in mid to late January. Tonnages from Asia Pacific origins to Europe recorded a further four percent WoW rebound in week 10, thanks to significant increases from most of the region’s main markets including China (up five percent) and Hong Kong (up six percent)."

Average spot prices from Asia Pacific to Europe declined three percent WoW to $3.91 per kilo, thanks to declines from China (down five percent) and Vietnam ( down seven percent). "Year on year, average spot rates from Asia Pacific to Europe remain significantly higher (+20 percent), thanks to increases from China (+14 percent), Hong Kong (+22 percent), Japan (+19 percent) and Thailand (+38 percent)."