Air cargo: Softer growth for tonnages and rates
An interesting news item published this week on the Air Cargo Week website suggests that worldwide air cargo finished the year at its lowest year-on-year full-month growth, with global tonnages in December around 6% higher than in the final month of 2023, although they were already at relatively high levels back then.
With our strong presence in the expedited international airfreight business, through our subsidiary Davies Turner Air Cargo, we note that the report, which is based on the latest figures and analysis by WorldACD Market Data, indicates that tonnage growth for both November and December had softened to single-digit figures, possibly indicating the beginning of a new more moderate growth trend.
The article adds that total worldwide air cargo tonnages at the start of 2025 recorded only 2% YoY growth in week 1 (30 December to 5 January), although a comparison with the previous year is less straightforward due to the seasonal drop this time of the year, as well as the impact of some severe weather conditions, mainly in the USA.
It adds that average global spot rates have started the year 22% above their equivalent levels a year ago, thanks to a 23% year-on-year increase from Asia-Pacific origins and a 59% rise from Middle East & South Asia (MESA) origins, as the relative strength of demand and pricing from those two regions last year looks set to continue into 2025. With global contract rates up by a more-modest 6%, YoY, in the first week, overall average worldwide air cargo rates of USD2.65 per kg have begun the year 13% higher than this time last year, based on a full-market average of spot rates and contract rates.
The article provides further information about the performance on specific trade lanes and is well worth a read at the following url:
https://aircargoweek.com/softening-growth-in-tonnages-and-rates/?mc_cid=15fe1532c5&mc_eid=dd3d18434d
For more information about our global air freight forwarding and logistics services, please contact aircargo@daviesturner.co.uk or visit https://www.daviesturner.com/air-freight
Air cargo: Softer growth for tonnages and rates
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