Cargo Breaking News
Air cargo tonnages from Asia Pacific to Europe and North America bounced back strongly in the last two weeks from their Lunar New Year holiday lull with some signs of the worldwide market stabilising following months of demand and rate declines, says the latest update from WorldACD Market Data. “After having reported last week that worldwide air cargo tonnages recovered faster and more strongly this year in the initial weeks since the annual Lunar New Year holiday downturn, we see now a continuing stabilising trend for both tonnages and the global average rate, albeit significantly lower than those of early 2022,” the report said. Data for week 7 (February 13-19) show a small decrease (2 percent) in worldwide tonnages compared with the previous week. “On the pricing side, global average rates remained completely stable compared with the previous week, although underlying regional trends can differ strongly, particularly related to Asia Pacific.” Comparing weeks 6 and 7 with the preceding two weeks (2Wo2W), tonnages are up 3 percent above their combined total in weeks 4 and 5, accompanied by a 3 percent increase in capacity whereas average worldwide rates went up by 2 percent based on the more than 400,000 weekly transactions covered by WorldACD’s data.
