THE air cargo market saw volumes decline in the first week of July as US Independence Day celebrations put the brakes on growth, reports London's' Air Cargo News.
WorldACD statistics show that demand was down 5 per cent in the first week of the month compared with the prior week.
WorldACD said the result includes a fall of 13 per cent from North American origins due to July 4 celebrations, which also contributed to an 8 per cent fall from Central & South America (CSA) and declines of 4 per cent from Europe and 3 per cent from Asia Pacific.
Volumes have been on a flat trajectory since the start of June due to the industry entering the quieter summer period.
There was a 1 per cent week-on-week decline for the week ending June 16, a 4 per cent fall the following week before rising 4 per cent and then falling 5 per cent at the start of July.
However, volumes remain far above the year-ago level.
'Worldwide tonnages were up, year on year (YoY), by 11 per cent in week 27, roughly in line with the figure for June and for the second quarter of 2024 as a whole,' WorldACD said.
'For weeks 26 and 27 combined, tonnages were up by 13 per cent, YoY.'
WorldACD figures for worldwide freight rates show that prices were up 2 per cent week on week toUS$2.57 per kg in week twenty-seven, based on spot and contract rates. This was driven by a rise from Asia Pacific where rates increased by 3 per cent.
SeaNews Turkey
WorldACD statistics show that demand was down 5 per cent in the first week of the month compared with the prior week.
WorldACD said the result includes a fall of 13 per cent from North American origins due to July 4 celebrations, which also contributed to an 8 per cent fall from Central & South America (CSA) and declines of 4 per cent from Europe and 3 per cent from Asia Pacific.
Volumes have been on a flat trajectory since the start of June due to the industry entering the quieter summer period.
There was a 1 per cent week-on-week decline for the week ending June 16, a 4 per cent fall the following week before rising 4 per cent and then falling 5 per cent at the start of July.
However, volumes remain far above the year-ago level.
'Worldwide tonnages were up, year on year (YoY), by 11 per cent in week 27, roughly in line with the figure for June and for the second quarter of 2024 as a whole,' WorldACD said.
'For weeks 26 and 27 combined, tonnages were up by 13 per cent, YoY.'
WorldACD figures for worldwide freight rates show that prices were up 2 per cent week on week toUS$2.57 per kg in week twenty-seven, based on spot and contract rates. This was driven by a rise from Asia Pacific where rates increased by 3 per cent.
SeaNews Turkey
