THE global air cargo traffic growth rate slowed to 2.3 per cent year on year in June, resulting in year-to-date growth of 4.8 per cent, according to data published by Montreal's Airports Council International (ACI).
The month's year-to-date was three percentage points lower than the same period last year and monthly growth rates have been deteriorating since January, said ACI World, reported American Shipper.
ACI World said the two main regional markets for air freight - Asia Pacific for its international segment and North America for its domestic segment - may be headed towards slower growth on account of the worsening trade row between the United States and China.
'The threat of increased economic uncertainty continues to loom over the air transport industry,' said ACI World director general Angela Gittens. 'With the volatility around increased protectionism between major trading nations set to continue to the end of 2018, these barriers to free trade could stifle the flow of cargo even further.'
Air freight volumes at North American airports increased by 5.7 per cent in the first half of the year. 'June brought with it a significant slowdown, however,' ACI World said, with a 1.7 per cent gain year on year, down from 8.6 per cent in May.
Asia Pacific's air freight market showed signs of a slight slowdown throughout the first half of the year, ACI World said. In June the region recorded 4.4 per cent growth on a year-to-date basis, after growing 8.6 per cent in 2017. 'Given the global context, the region is showing significant resilience to shocks,' ACI World said.
Europe's air freight market grew by 3.7 per cent on a year-to-date basis for the first half of 2018. 'It should be noted that the region's June 2017 year-to-date figures were particularly strong, exacerbating the relatively modest growth figures posted by the region during the period,' ACI World said.
The Middle East experienced no gains in freight volumes in the first half of the year. Year-on-year decline was 1.2 per cent in June, down from May's 0.9 per cent drop.
Africa's air freight volumes rose by 11.4 per cent on a year-to-date basis in June. The market has been posting more robust growth figures in the last 12 months and is on track to end 2018 with a stronger growth trend than in 2017, during which it had grown 7.7 per cent, ACI World said.
After several years of stagnation, air freight volumes in Latin America-Caribbean regained momentum in the first six months of the year. Year-to-date figures for the region stood at growth of 10.6 per cent, with both its domestic and international segments growing at a similar pace.
The month's year-to-date was three percentage points lower than the same period last year and monthly growth rates have been deteriorating since January, said ACI World, reported American Shipper.
ACI World said the two main regional markets for air freight - Asia Pacific for its international segment and North America for its domestic segment - may be headed towards slower growth on account of the worsening trade row between the United States and China.
'The threat of increased economic uncertainty continues to loom over the air transport industry,' said ACI World director general Angela Gittens. 'With the volatility around increased protectionism between major trading nations set to continue to the end of 2018, these barriers to free trade could stifle the flow of cargo even further.'
Air freight volumes at North American airports increased by 5.7 per cent in the first half of the year. 'June brought with it a significant slowdown, however,' ACI World said, with a 1.7 per cent gain year on year, down from 8.6 per cent in May.
Asia Pacific's air freight market showed signs of a slight slowdown throughout the first half of the year, ACI World said. In June the region recorded 4.4 per cent growth on a year-to-date basis, after growing 8.6 per cent in 2017. 'Given the global context, the region is showing significant resilience to shocks,' ACI World said.
Europe's air freight market grew by 3.7 per cent on a year-to-date basis for the first half of 2018. 'It should be noted that the region's June 2017 year-to-date figures were particularly strong, exacerbating the relatively modest growth figures posted by the region during the period,' ACI World said.
The Middle East experienced no gains in freight volumes in the first half of the year. Year-on-year decline was 1.2 per cent in June, down from May's 0.9 per cent drop.
Africa's air freight volumes rose by 11.4 per cent on a year-to-date basis in June. The market has been posting more robust growth figures in the last 12 months and is on track to end 2018 with a stronger growth trend than in 2017, during which it had grown 7.7 per cent, ACI World said.
After several years of stagnation, air freight volumes in Latin America-Caribbean regained momentum in the first six months of the year. Year-to-date figures for the region stood at growth of 10.6 per cent, with both its domestic and international segments growing at a similar pace.