WHILE global air cargo tonnages for December 2023 are expected to be up five per cent year on year, Q4 will be the first quarter of 2023 showing positive growth (up three per cent) compared to last year, coming from Q1 at -11 per cent, Q2 (down eight per cent) and Q3 (down three per cent) despite all uncertainties in the last months
WHILE global air cargo tonnages for December 2023 are expected to be up five per cent year on year, Q4 will be the first quarter of 2023 showing positive growth (up three per cent) compared to last year, coming from Q1 at -11 per cent, Q2 (down eight per cent) and Q3 (down three per cent) despite all uncertainties in the last months. 'This means that global tonnages for the full year 2023 end up being five per cent lower than in 2022,' says the latest update from WorldACD Market Data, according to Mumbai's The STAT Trade Times.
'While the first half of 2023 was down nine per cent, the second half was characterized by an improving YoY performance for each consecutive month and closing at flat YoY growth.'
Weekly analysis preliminary figures for week 51 (December 18-24) show a drop of eight per cent in global tonnages and a decline of six per cent in average worldwide rates compared with the previous week after recovering more quickly than last year from the seasonal post-Thanksgiving dip last month.
'This slide in tonnages and rates follows the typical pattern seen in the second half of December,' the update added.
'While volumes went down across all regions, we saw that the global decrease in average rates has mainly been driven by origin region Asia Pacific (down six per cent) that recently showed a surge in rates, especially China.
'On a regional level, a drop of 15 per cent in tonnages was recorded on key flows ex-Asia Pacific to Europe, ex-North America to Europe and ex-Europe to Africa, the update added.
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