THE slowdown in global air tonnage that began in the latter half of March accelerated in week 14 (March 31 - April 6), according to the latest weekly figures from WorldACD Market Data.
Following a one per cent decline the previous week, worldwide air cargo tonnages fell by seven per cent, week on week. About half of this was due to a seasonal drop in bookings during the holidays at the end of Ramadan.
The other half reflects worldwide uncertainty over a trade war triggered by the latest wave of US tariffs and the removal of US de minimis exemptions for shipments from China and Hong Kong.
Despite the weakening in demand, volumes are still six per cent higher level than the same week last year.
Amid a downturn in tonnages, worldwide average rates still hold firm and are even continuing their upward trend seen since the beginning of March, increasing by two per cent, and by three per cent based on the comparison of the last two weeks with the previous two weeks.
SeaNews Turkey
Following a one per cent decline the previous week, worldwide air cargo tonnages fell by seven per cent, week on week. About half of this was due to a seasonal drop in bookings during the holidays at the end of Ramadan.
The other half reflects worldwide uncertainty over a trade war triggered by the latest wave of US tariffs and the removal of US de minimis exemptions for shipments from China and Hong Kong.
Despite the weakening in demand, volumes are still six per cent higher level than the same week last year.
Amid a downturn in tonnages, worldwide average rates still hold firm and are even continuing their upward trend seen since the beginning of March, increasing by two per cent, and by three per cent based on the comparison of the last two weeks with the previous two weeks.
SeaNews Turkey
