Worldwide air cargo charges rose to a 2024 high in November of US$2.76 per kilo, despite a diminutive (-2 p.c) descend in flown tonnages when put next with October, even supposing query and pricing every remain deal above their already elevated ranges closing November, based on the most modern figures and evaluation by WorldACD Market files.
The figures replicate worldwide air cargo markets that remain rather solid, in conjunction with ex-Asia Pacific, however where correct arrive planning by air cargo stakeholders appears to be area to avert a prime peak season capacity crunch and genuinely steep price rises in the closing weeks of the year.
On the opposite hand, moderate worldwide charges in November rose by +6 p.c, month on month (MoM), in step with a corpulent-market moderate of plight charges and contract charges, taking them to their absolute best stage since January 2023 and +11 p.c elevated, year on year (YoY). The finest MoM increases came from Europe (+10 p.c) and Central & South The US (CSA, +9 p.c) origins, in step with the more than 450,000 weekly transactions lined by WorldACD’s files. Moderate worldwide plight charges rose to US$3.09 per kilo in November, a YoY expand of +21 p.c, whereas contract charges worldwide averaged US$2.67 per kilo, a +10 p.c rise, YoY.
But general world tonnages in November were down -2 p.c, MoM, with the finest share decline coming from Heart East & South Asia (MESA, -11 p.c) origins, which were highly elevated for many of this year. However the -4 p.c, MoM, decrease from Europe origins was accountable for a the same descend in tonnage phrases – reflecting diminished passenger abdomen capacity since the initiating of aviation’s iciness season from 27 October, in conjunction with cuts in passenger products and services by European carriers to and from China.
Weekly evaluation
On a weekly stage, moderate world corpulent-market charges in week Forty eight (25 November to 1 December) rose by a extra +2 p.c, WoW, to US$2.84 per kilo, also their absolute best stage this year, as air cargo’s fourth-quarter peak season approaches its zenith. Residing charges rose +3 p.c, week on week (WoW), to US$3.22 per kilo, thanks to increases from Asia-Pacific (+4 p.c, WoW), North The US (+3 p.c), Europe (+2 p.c), and CSA (+1 p.c), together handing over a world YoY expand of +19 p.c.
Worldwide chargeable weight flown in week 28, in the intervening time, dipped by -3 p.c, when put next with the outdated week, even supposing that was essentially because of a -17 p.c WoW decrease from North The US origins because of the Thanksgiving vacation in the United States on 28 November. Excluding cargo to and from the United States, worldwide tonnages were exact, WoW, in week Forty eight.
Asia Pacific to Europe boost continues
Within that +4 p.c WoW expand in plight charges from Asia-Pacific origins, charges to Europe rose deal, WoW, from most key Asia Pacific markets, taking them at or shut to their absolute best ranges to this level this year, in conjunction with China (US$5.10 per kilo, +7 p.c WoW), Hong Kong (US$6.25, +9 p.c), Japan (US$4.97, +6 p.c), South Korea (US$5.49, +6 p.c), Taiwan (US$4.07, +5 p.c), and Vietnam (US$4.88, +3 p.c). All of those are severely above their ranges in the the same week closing year, in conjunction with YoY increases of more than +30 p.c from Japan and Vietnam, and a YoY expand of +46 p.c from Taiwan.
No topic the flat volumes on a world foundation, chargeable weight flown to Europe in week Forty eight rose extra, WoW, from China (+3 p.c), Hong Kong (+5 p.c), and Vietnam (+4 p.c), and was more than +20 p.c elevated, YoY, from China (+24 p.c), Hong Kong (+27 p.c), Japan (+29 p.c), and Vietnam (+25 p.c) origins.
