Cargo Breaking News
Air cargo continued to grow in August as volumes grew again, but the outlook for remainder of the year remains uncertain, according to the latest data by Xeneta, said Niall van de Wouw, Chief Airfreight Officer. The latest figures show air cargo demand to have increased by a ‘surprise’ 5 per cent year-on-year in August, the second month in a row demand has grown at this level. “Air cargo’s higher demand is the result of the modal shift we witnessed in July, with a bit of support from e-commerce. It is not an indicator of increased economic activity,” van de Wouw added. Xeneta stated the increase in demand is likely to reflect as businesses look to move goods quickly by air rather than sea to avoid the impact of tariffs. Capacity also increased by 4 per cent year-on-year in August and the DLF was down slightly at 56 per cent. It was not all good news for air cargo as the average spot rate for the month declined by 3 per cent year-on-year to US$ 2.55 per kg. Xenata stated air freight spot rate performance was a better indicator of the underlying economic conditions than the volumes.
