Air cargo rates continues to soften in September: WorldACD

According to the latest figures from WorldACD Market Data.Global, air cargo rates have continued to soften in September. WorldACD said that air cargo prices continued their gradual decline in the first two full weeks of September, while volumes increased slightly in the second week after a drop in the first full week followed by a drop in worldwide cargo volumes in chargeable weight in August. From September 11 to 18 (week 37), worldwide chargeable weight increased +1% compared with the previous week, based on the more than 350,000 weekly transactions covered by WorldACD’s data. But comparing weeks 36 and 37 with the preceding two weeks (2Wo2W), volumes in the last two weeks combined dropped -3% on a 2Wo2W basis, while average worldwide rates declined -1%, with a decrease in capacity of -2%. Across that two-week period, tonnages showed a declining trend from the main air cargo origin regions, except for flows ex-Europe, which showed an increase of +2%. Notably, volumes ex-North America displayed a -10% drop that can also be seen on a lane-by-lane basis, with significant decreases from North America to Asia Pacific (-17%), to Europe (-10%) and to Central & South America (-9%), said report.