Cargo Breaking News
The quick recovery of July’s global IT outage produced no significant ongoing disruption to resurgent air cargo demand, with rates rising for a sixth consecutive month, according to the latest market analysis by Xeneta. Global average air cargo spot rates reached USD 2.66 per kg in July, +20% higher year-on-year.
This was again driven by strong global cargo demand growth. July volumes rose +13% year-on-year, thanks to buoyant e-commerce demand from Asia as well as the comparatively low demand base in the corresponding month in 2023.
In contrast, global air cargo supply grew at a much slower pace of +2% year-on-year this July.
Demand growth alongside only a modest increase in capacity supply produced an expected boost to the global dynamic load factor. It exceeded last year’s level by five percentage points, reaching 59% in July. Dynamic load factor is Xeneta’s measurement of capacity utilisation based on volume and weight of cargo flown alongside available capacity.
