October cargo volumes up 4% YOY: Xeneta

Global air cargo volumes growth slowed down in October but still recorded a stronger than expected 4 per cent rise year-on-year, despite the easing of frontloading of imports by businesses countering the cost of tariffs and effects of the US de minimis ban, Niall van de Wouw, Chief Airfreight Officer, Xeneta. The latest monthly data supports its forecast in September of an overall 3–4 per cent growth in demand for 2025, but more worrying trends indicate challenging times ahead for airlines and forwarders as the market is “starting to favour shippers more than it has for the past few years,” he said. October saw a sixth consecutive monthly fall in global air cargo spot rates, with a 3 per cent decline year-on-year to US$ 2.58 per kg. Seasonal contract rates, valid for over a month, fell even faster than spot prices. Averaging US$ 2.31 per kg, they were down 8 per cent year-on-year, reflecting a subdued outlook among forwarders and carriers.