Middle East & South Asia air cargo tonnages rebound partially

Air cargo tonnages from Middle East & South Asia (MESA) origins have rebounded partially in the third week of June after falling sharply in the previous two weeks due to the effects of Eid Al-Adha holidays and the conflict between Israel and Iran.

"Tonnages flown from MESA origins bounced back with a +10 percent week-on-week (WoW) increase in week 25 (June 16-22) after falling by around -15 percent in the first two weeks of the month," according to the latest weekly figures and analysis from WorldACD Market Data.

"Declines in week 23, especially intra-MESA traffic (-26 percent) and MESA to Africa flows (-16 percent), had continued in week 24 with Levant countries (-17 percent) and South Asia (-12 percent) impacted particularly strongly including WoW declines in traffic from Bangladesh (-48 percent) and Pakistan (-30 percent)."

Those declines were partially reversed in week 25 with a +14 percent rebound from the Levant, +32 percent from Pakistan origins and a +18 percent WoW increase in flown chargeable weight from Bangladesh, respectively, the update added.

MESA traffic to Europe recorded a +17 percent WoW increase in week 25 with intra-MESA traffic regaining +12 percent and volumes to Asia Pacific rising +11 percent, based on the more than 500,000 weekly transactions covered by WorldACD’s data. "The region’s biggest origin market, India, recorded a seven percent WoW increase after falls the previous week, and there were also significant WoW increases in traffic from the UAE (+10 percent), Israel (+12 percent) and Saudi Arabia (+40 percent)."

Worldwide tonnages, rates edge back
On a global level, worldwide tonnages recorded a two percent WoW increase in week 25 – taking them five percent higher year on year (YoY).

"Average global rates rose by around one percent in week 25 to $2.43 per kilo based on a full-market mix of spot and contract rates, taking them slightly (one percent) below their level in week 25 last year. Spot rates were also relatively stable in week 25 at an average of $2.57 per kilo globally with spot prices from MESA origins seeing little WoW change although spot rates from that region are well (-26 percent) below their inflated levels this time last year, the update added.

Flight operations returning to normal
Flight operations across the Middle East that have been affected by airspace closures have resumed partially this week following the Israel-Iran ceasefire and Gulf states, including Qatar, UAE, Bahrain and Kuwait, reopening their airspace, allowing flights through key hubs like Doha and Dubai. Many international carriers, however, remain on reduced operations to and from the region with normalcy not expected to return until next month, depending on the ceasefire holding and full airspace reopening. These developments are likely to be reflected in the figures for weeks 26 and 27.