ACCORDING to preliminary figures from WorldACD Market Data, the demand for air cargo has decreased after showing signs of stabilising in the past two months, reports Singapore's Asia Aviation.
The first week of April saw the steepest drop since the Chinese New Year factory closures in January, with a fall of eight per cent in worldwide flown tonnages and a three per cent drop in average global air cargo pricing.
The downward trend is visible in all main origin regions and almost all lanes, particularly ex-Middle East & South Asia to Asia Pacific, ex-North America to Europe and to Central & South America, and flows ex-Europe to Asia Pacific, Central & South America, and to Middle East & South Asia.
The only regional lane showing a slight increase is the Middle East & South Asia to Europe.
In terms of pricing, yields continue to show a stable trend ex-Central & South America, but for all other regions, average rates are decreasing, with the most significant drop seen from the Middle East & South Asia to Asia Pacific.
Comparing the overall global market with this time last year, chargeable weight in weeks 13 and 14 was down 11 per cent, with notable percentage decreases in tonnages year-on-year ex-North America, ex-Europe, and ex-Middle East & South Asia.
Overall capacity has jumped 12 per cent compared with the previous year, with double-digit percentage increases from almost all regions - except from Central & South America and North America.
Worldwide rates are currently 36 per cent below their levels this time last year, at an average of US$2.62 per kilo in week 14, although they remain significantly above pre-Covid levels.
SeaNews Turkey
The first week of April saw the steepest drop since the Chinese New Year factory closures in January, with a fall of eight per cent in worldwide flown tonnages and a three per cent drop in average global air cargo pricing.
The downward trend is visible in all main origin regions and almost all lanes, particularly ex-Middle East & South Asia to Asia Pacific, ex-North America to Europe and to Central & South America, and flows ex-Europe to Asia Pacific, Central & South America, and to Middle East & South Asia.
The only regional lane showing a slight increase is the Middle East & South Asia to Europe.
In terms of pricing, yields continue to show a stable trend ex-Central & South America, but for all other regions, average rates are decreasing, with the most significant drop seen from the Middle East & South Asia to Asia Pacific.
Comparing the overall global market with this time last year, chargeable weight in weeks 13 and 14 was down 11 per cent, with notable percentage decreases in tonnages year-on-year ex-North America, ex-Europe, and ex-Middle East & South Asia.
Overall capacity has jumped 12 per cent compared with the previous year, with double-digit percentage increases from almost all regions - except from Central & South America and North America.
Worldwide rates are currently 36 per cent below their levels this time last year, at an average of US$2.62 per kilo in week 14, although they remain significantly above pre-Covid levels.
SeaNews Turkey