WORLDWIDE air cargo rates have continued to rise into the first week of April, boosted by a surge in prices and demand from Middle East and South Asia origins, according to the latest weekly figures and analysis from worldacd Market Data, reports Sydney's Asian Aviation.
This, despite the usual lull in tonnages from most regions linked to Easter, Ramadan, and China's Qingming Festival.
Average global rates rose, week on week (WoW), by more than +2 per cent in week 14 (1-7 April) to $2.54 per kilo, following consecutive weekly WoW rises of between +2 per cent and +3 per cent last month, taking them to just -1 per cent of their level in week 14 last year and significantly above pre-Covid levels (+41 per cent compared to April 2019).
Close examination reveals a big surge in spot rates from Middle East & South Asia (MESA) to Europe in recent weeks, especially from India and Bangladesh, linked to strong demand developments combined with supply issues caused by disruptions to container shipping and Ramadan.
According to the latest weekly figures and analysis from WorldACD, MESA to Europe spot rates have soared in the last three weeks to around double their level this time last year, rising to US$3.43 a kilo in week 14 (+109 per cent).
But the figures for India and Bangladesh origin points are even more dramatic, with India-Europe spot rates rising to more than $4 a kilo in week 14 ($4.13/kg, +160 per cent), and Bangladesh-Europe spot rates soaring to $4.59 a kilo in week 14 - a near-trebling of their level this time last year (+179 per cent).
Rates from Africa, Central & South America (CSA), Europe, and North America origin points were more or less flat, on a 2Wo2W basis, despite significant 2Wo2W declines in tonnages, including a -15 per cent fall ex-Europe, -9 per cent drops ex-North America and ex-CSA, and a -7 per cent decline ex-Africa, based on the more than 450,000 weekly transactions covered by WorldACD's data.
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This, despite the usual lull in tonnages from most regions linked to Easter, Ramadan, and China's Qingming Festival.
Average global rates rose, week on week (WoW), by more than +2 per cent in week 14 (1-7 April) to $2.54 per kilo, following consecutive weekly WoW rises of between +2 per cent and +3 per cent last month, taking them to just -1 per cent of their level in week 14 last year and significantly above pre-Covid levels (+41 per cent compared to April 2019).
Close examination reveals a big surge in spot rates from Middle East & South Asia (MESA) to Europe in recent weeks, especially from India and Bangladesh, linked to strong demand developments combined with supply issues caused by disruptions to container shipping and Ramadan.
According to the latest weekly figures and analysis from WorldACD, MESA to Europe spot rates have soared in the last three weeks to around double their level this time last year, rising to US$3.43 a kilo in week 14 (+109 per cent).
But the figures for India and Bangladesh origin points are even more dramatic, with India-Europe spot rates rising to more than $4 a kilo in week 14 ($4.13/kg, +160 per cent), and Bangladesh-Europe spot rates soaring to $4.59 a kilo in week 14 - a near-trebling of their level this time last year (+179 per cent).
Rates from Africa, Central & South America (CSA), Europe, and North America origin points were more or less flat, on a 2Wo2W basis, despite significant 2Wo2W declines in tonnages, including a -15 per cent fall ex-Europe, -9 per cent drops ex-North America and ex-CSA, and a -7 per cent decline ex-Africa, based on the more than 450,000 weekly transactions covered by WorldACD's data.
SeaNews Turkey