GLOBAL tonnages have dropped sharply in the first week of May, due to the May 1 public holiday in most countries of the world, according to WorldACD Market Data, reports the American Journal of Transportation
GLOBAL tonnages have dropped sharply in the first week of May, due to the May 1 public holiday in most countries of the world, according to WorldACD Market Data, reports the American Journal of Transportation. Figures for the period show a drop of 10 per cent in tonnages and a decrease of two per cent in average global air cargo prices, week to week based on the more than 400,000 weekly transactions covered by WorldACD's data.
Comparing the preceding two weeks overall tonnages, they decreased four per cent versus their combined total in weeks 15 and 16, and average worldwide rates remained stable.
At a regional level, almost all origin regions showed a downward trend in tonnages, with Asia Pacific, Europe, and Central and South America being impacted by the May 1 holiday.
The most-notable decreases can be observed between Asia Pacific and Middle East and South Asia (westbound -15 per cent, eastbound -19 per cent), between Europe and Asia Pacific (westbound -6 per cent, eastbound -11 per cent), between Europe and Central and South America (northbound -24 per cent, southbound -9 per cent) and outbound Middle East & South Asia to Europe (-22 per cent).
Positive tonnage developments can be reported on outbound Central & South America to North America (+25 per cent), driven by the flower exports ahead of Mother's Day on 14 May, and outbound Europe to the Middle East & South Asia (+6 per cent).
In terms of pricing, average rates show a positive trend ex-Central & South America to North America (+6 per cent) and to Europe (+7 per cent), and from the Middle East & South Asia to Europe (+4 per cent); for most other major air cargo lanes, rates have been stable or decreasing, with the most significant drop seen from Europe to Africa (-7 per cent).
Comparing the overall global market with this time last year, chargeable weight was down nine per cent compared with the equivalent period last year. Most notable are the double-digit percentage decreases in year-on-year tonnages ex-North America (-21 per cent) and ex-Europe (-13 per cent).
Worldwide rates are currently 36 per cent below their levels last year, at an average of US$2.52 per kilo in week 18, despite the effects of higher fuel surcharges. However, they remain significantly above pre-Covid levels.
SeaNews Turkey
