AVERAGE global air cargo rates held steady in the second week of April, equalling their level in the equivalent week the previous year for the first time since mid-2022 despite a drop in tonnages partly linked to Eid.
Average global rates remained flat in week 15 (April 8-14) at US$2.52 per kilo, following consecutive week-on-week (WoW) rises of between two and three percent in the previous six weeks, according to the latest weekly figures and analysis from worldacd Market Data, reports The STAT Trade Times, Navi Mumbai.
'Total worldwide tonnages fell by three per cent in week 15 with particularly big WoW declines from Pakistan, Bangladesh and the UAE.'
Air export tonnages from South Asian countries including India, Pakistan and Bangladesh remain high compared with their normal levels for this time of year, especially to European destinations, linked to strong demand developments combined with supply issues caused by disruptions to ocean shipping.
'A drop in bookings during the Eid holidays at the end of Ramadan led to some steep WoW) falls in tonnages in week 15 ex-Pakistan (-41 per cent), Bangladesh (-14 per cent) and the UAE (-29 per cent to worldwide destinations along with other countries such as India (-18 per cent worldwide, and -16 per cent to Europe destinations).'
Tonnages from the Middle East & South Asia (MESA) region overall to Europe also dropped by 18 per cent WoW, although they remain up by 17 per cent compared with the same week last year.
Despite the WoW drop, India-Europe tonnages remain up nine per cent YoY. Despite a 21 per cent WoW drop, Dubai-Europe tonnages remained at more than twice their level this time last year, up 153 per cent, in the week prior to flooding there, impacting the emirate's air operations, the update added.
High MESA-Europe spot rates MESA to Europe spot rates as a whole are more than double (+122 per cent) their level this time last year with India-Europe spot rates still averaging more than $4 a kilo in week 15 ($4.05/kg) despite a two per cent WoW drop, leaving them up by 174 per cent compared with week 15 last year.
Bangladesh-Europe spot rates edged up slightly further in week 15 to $4.61 a kilo (+176 per cent year on year). Sri Lanka-Europe prices are up 53 per cent year on year and Dubai-Europe spot prices are 33 per cent above week fifteen last year.
SeaNews Turkey
Average global rates remained flat in week 15 (April 8-14) at US$2.52 per kilo, following consecutive week-on-week (WoW) rises of between two and three percent in the previous six weeks, according to the latest weekly figures and analysis from worldacd Market Data, reports The STAT Trade Times, Navi Mumbai.
'Total worldwide tonnages fell by three per cent in week 15 with particularly big WoW declines from Pakistan, Bangladesh and the UAE.'
Air export tonnages from South Asian countries including India, Pakistan and Bangladesh remain high compared with their normal levels for this time of year, especially to European destinations, linked to strong demand developments combined with supply issues caused by disruptions to ocean shipping.
'A drop in bookings during the Eid holidays at the end of Ramadan led to some steep WoW) falls in tonnages in week 15 ex-Pakistan (-41 per cent), Bangladesh (-14 per cent) and the UAE (-29 per cent to worldwide destinations along with other countries such as India (-18 per cent worldwide, and -16 per cent to Europe destinations).'
Tonnages from the Middle East & South Asia (MESA) region overall to Europe also dropped by 18 per cent WoW, although they remain up by 17 per cent compared with the same week last year.
Despite the WoW drop, India-Europe tonnages remain up nine per cent YoY. Despite a 21 per cent WoW drop, Dubai-Europe tonnages remained at more than twice their level this time last year, up 153 per cent, in the week prior to flooding there, impacting the emirate's air operations, the update added.
High MESA-Europe spot rates MESA to Europe spot rates as a whole are more than double (+122 per cent) their level this time last year with India-Europe spot rates still averaging more than $4 a kilo in week 15 ($4.05/kg) despite a two per cent WoW drop, leaving them up by 174 per cent compared with week 15 last year.
Bangladesh-Europe spot rates edged up slightly further in week 15 to $4.61 a kilo (+176 per cent year on year). Sri Lanka-Europe prices are up 53 per cent year on year and Dubai-Europe spot prices are 33 per cent above week fifteen last year.
SeaNews Turkey
