THERE is still no sign of any fourth-quarter traditional uplift in air cargo demand or pricing, with the downward trend of the last several months continuing into the second week of November, reports the American Journal of Transportation.
Following a steep decline in the week to November 6 (week 44), reported by WorldACD, the latest preliminary figures from WorldACD Market Data show that weakening trend continue in this week's report - although the drop was less steep on a week-over-week basis.
But comparing weeks 44 and 45 with the preceding two weeks (2Wo2W), tonnages were seven per cent below their level in weeks 42 and 43, while average worldwide rates decreased by one per cent, in a decreasing capacity environment (one per cent) - based on the more than 350,000 weekly transactions covered by WorldACD's data.
Across that two-week period, outbound tonnages dropped from all the main regions, most notably ex-Europe (-12 per cent), ex-Asia Pacific (-5 per cent) and ex-North America (-5 per cent).
On a lane-by-lane basis, strong decreases were recorded between Europe and North America (-12 per cent westbound and -10 per cent eastbound) and between Europe and Asia Pacific (-7 per cent westbound and -14 per cent eastbound).
There were also double-digit percentage drops in tonnages from Europe to Central & South America (-15 per cent) and to Africa (-11 per cent), while intra-Asia Pacific volumes fell by seven per cent. Chargeable weight growth outbound from Middle East & South Asia to Asia Pacific was the only significant positive exception (+6 per cent), on a 2Wo2W basis.
Comparing the overall global market with this time last year, chargeable weight in weeks 44 and 45 was down 18 per cent year on year, despite a capacity increase of two per cent.
Notably, tonnages ex-Asia Pacific are 25 per cent below their strong levels this time last year, and Middle East & South Asia origin tonnages are 23 per cent below last year. But there were also double-digit percentage year-on-year drops outbound from both North America (-18 per cent) and Europe (-13 per cent), despite higher capacity.
Capacity from all the main origin regions, with the exception of Asia Pacific (-8 per cent) and Central & South America (-6 per cent), is (significantly) above its levels this time last year: North America +9 per cent, Middle East & South Asia +6 per cent, Europe +2 per cent and a double-digit percentage rise from Africa (+11 per cent).
Worldwide rates are currently 22 per cent below their levels this time last year at an average of US$3.34 per kilo, despite the effects of higher fuel surcharges, but they remain significantly above pre-Covid levels.
SeaNews Turkey
Following a steep decline in the week to November 6 (week 44), reported by WorldACD, the latest preliminary figures from WorldACD Market Data show that weakening trend continue in this week's report - although the drop was less steep on a week-over-week basis.
But comparing weeks 44 and 45 with the preceding two weeks (2Wo2W), tonnages were seven per cent below their level in weeks 42 and 43, while average worldwide rates decreased by one per cent, in a decreasing capacity environment (one per cent) - based on the more than 350,000 weekly transactions covered by WorldACD's data.
Across that two-week period, outbound tonnages dropped from all the main regions, most notably ex-Europe (-12 per cent), ex-Asia Pacific (-5 per cent) and ex-North America (-5 per cent).
On a lane-by-lane basis, strong decreases were recorded between Europe and North America (-12 per cent westbound and -10 per cent eastbound) and between Europe and Asia Pacific (-7 per cent westbound and -14 per cent eastbound).
There were also double-digit percentage drops in tonnages from Europe to Central & South America (-15 per cent) and to Africa (-11 per cent), while intra-Asia Pacific volumes fell by seven per cent. Chargeable weight growth outbound from Middle East & South Asia to Asia Pacific was the only significant positive exception (+6 per cent), on a 2Wo2W basis.
Comparing the overall global market with this time last year, chargeable weight in weeks 44 and 45 was down 18 per cent year on year, despite a capacity increase of two per cent.
Notably, tonnages ex-Asia Pacific are 25 per cent below their strong levels this time last year, and Middle East & South Asia origin tonnages are 23 per cent below last year. But there were also double-digit percentage year-on-year drops outbound from both North America (-18 per cent) and Europe (-13 per cent), despite higher capacity.
Capacity from all the main origin regions, with the exception of Asia Pacific (-8 per cent) and Central & South America (-6 per cent), is (significantly) above its levels this time last year: North America +9 per cent, Middle East & South Asia +6 per cent, Europe +2 per cent and a double-digit percentage rise from Africa (+11 per cent).
Worldwide rates are currently 22 per cent below their levels this time last year at an average of US$3.34 per kilo, despite the effects of higher fuel surcharges, but they remain significantly above pre-Covid levels.
SeaNews Turkey
