Global air cargo heads towards ‘hotQ4’, rates remain firm

The global air cargo market is heading towards a ‘hot Q4’ of rate increases after a sixth straight month of double-digit demand growth in June, with a warning that shippers and forwarders ill-prepared for this year’s peak season may find themselves ‘at the mercy of the market,’ according to the latest analysis by Xeneta.

Demand in June, measured in chargeable weight, was +13% year-on-year, continuing the upward trend seen throughout the first half of 2024. In contrast, cargo supply grew at its slowest pace in 2024, edging up only +3% year-on-year. As a result, the global air cargo dynamic load factor – Xeneta’s measurement of capacity utilisation based on volume and weight of cargo flown alongside available capacity – increased by +4% pts year-on-year.