Air cargo’s strong seasonal fourth quarter (Q4) looks to have peaked, with tonnages and rates dropping a minute bit in the second corpulent week of December, in conjunction with from Asia Pacific origins, per the most up-to-date figures and analysis by WorldACD Market Files.
Following a lot of weeks of consecutive week-on-week (WoW) rises, common space rates from Asia-Pacific origins dropped by around -4% in week 50 (9 to fifteen December), in contrast with the old week, to US$4.57 per kilo. That topple in prices from Asia-Pacific origins turn into as soon as offset by a +6% rise from North The united states and a +5% amplify from Center East & South Asia (MESA) origins, collectively ensuing in a worldwide -1% WoW dip in space rates total. Nevertheless, in contrast with final year, common world space rates in week 50 this year have been +16% elevated, at $3.20 per kilo, pushed by a +60% year-on-year (YoY) rise from MESA, a +14% amplify from Asia Pacific, +13% rise from Europe, and +8% rebound from North The united states origins, plus dinky will enhance from Africa and Central & South The united states (CSA).
Average worldwide contract rates additionally recorded a dinky (-1%) WoW decrease, to $2.61 per kilo, generating a identical -1% drop in total worldwide air cargo prices to $2.78 per kilo, in response to a corpulent-market common of space rates and contract rates – but around +6% elevated, YoY. WorldACD’s figures are now in response to better than 500,000 weekly transactions, due to the the addition this month of 4 recent air cargo airline contributors to the WorldACD database.
Inquire of decrease
With worldwide air cargo capacity stable, WoW, in week 50, as a -1% drop in worldwide freighter capacity turn into as soon as balanced out by a +1% amplify in passenger belly capacity, the adjustments in space prices broadly reflected adaptations in query. Total worldwide tonnages fell by -1%, WoW, with a -2% drop in tonnages from Asia-Pacific origins and a -7% topple from MESA origins offset by a +4% tonnage amplify from Africa and +2% rise from CSA, boosted by rising seasonal shipments of perishables northbound from those southern hemisphere markets – as an illustration, from Egypt to Europe.
Asia Pacific particular particular person markets
Inspecting the WoW performance of a host of key Asia Pacific outbound markets in week 50, particular particular person space rates from Asia Pacific to the USA, and from China to the USA namely, edged up a minute bit elevated, WoW, to $6.94 and $6.98 per kilo, respectively. And in contrast with final year, Asia Pacific to USA space rates in week 50 are a minute bit (+4%) elevated, YoY, though China to USA rates are down by -7%, YoY. Meanwhile, chargeable weight in week 50 from Asia Pacific and China to the USA turn into as soon as down, WoW, by -5% and -4%, respectively. Nevertheless in contrast with final year, tonnages from Asia Pacific to the USA are +5% elevated, whereas from China to the USA finest a minute bit elevated (+1%).
From Asia Pacific to Europe, all the worthy foundation markets recorded essential WoW drops in tonnages in week 50, in conjunction with WoW falls of -10% from Vietnam, -9% from Thailand, -8% from Hong Kong, -6% drops from each China and Japan, and a -4% WoW drop from South Korea. Nevertheless in contrast with final year, volumes from most of those markets are greatly elevated aloof in week 50 of this year, in conjunction with a +26% YoY amplify from Japan, +23% from China, +19% from Vietnam, and +15% from Hong Kong.
And the image is the same on the pricing side, in conjunction with WoW declines in week 50 to Europe from Taiwan (-11%), Japan (-7%), and China (-5%), though space prices from Hong Kong to Europe remain stable at conclude to their 2024 high of $6.21 per kilo. Nevertheless YoY, space prices from all those foremost foundation markets to Europe are greatly elevated in this year’s week 50, in conjunction with a +63% YoY rise from Thailand, +40% amplify from Taiwan, +28% amplify from Vietnam, +25% from Japan, +16% from South Korea, +13% From China, and +7% from Hong Kong.
