WORLDWIDE air cargo tonnages dipped in the week commencing 29 April - week 18 - chiefly due to Labour Day holidays and Japan's Golden Week, reports the American Journal of Transportation.
While demand and rates remain highly elevated from Middle East & South Asia (MESA) origins to Europe, average global rates increased only slightly.
According to the latest weekly figures and analysis from worldacd Market Data, total worldwide tonnages dropped by 12 per cent in week 18 (April 29 to May 5), after bouncing back in the previous two weeks from the effects of Easter and Eid holidays.
Tonnages fell in week 18 from all the main global regions, but most significantly from the big Asia Pacific origin region, where volumes were down nearly 16 per cent week on week (WoW).
Roughly one third of that Asia Pacific decline can be attributed to Japan's Golden Week holiday from 29 April to 5 May, which led to a WoW decline of -46 per cent in chargeable weight from Japan origins, based on the more than 450,000 weekly transactions covered by WorldACD's data.
Meanwhile, after booming for two consecutive weeks, buoyed by flower shipments ahead of Mother's Day, tonnages from Central & South America (CSA) declined, WoW, by 14 per cent, of which more than half (54 per cent) can be attributed to the post-peak drop in the flower business. Tonnages ex-Europe fell, WoW, by around 11 per cent, with smaller declines from MESA five per cent, Africa five per cent and North America four per cent.
Further analysis confirms that a large part the WoW decline in week 18 was linked to public holidays around Labour Day on 1 May, which especially impacted Europe, CSA, parts of Asia (eg,. China, Vietnam, Malaysia, Singapore, Thailand) and Africa (eg, South Africa).
For instance, most (84%) of Europe's overall WoW decline of -11 per cent was contributed by countries in which 1 May (Labour Day) is a public holiday. And when looking globally, at least two thirds of the WoW decline is from countries that celebrate Labour Day.
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While demand and rates remain highly elevated from Middle East & South Asia (MESA) origins to Europe, average global rates increased only slightly.
According to the latest weekly figures and analysis from worldacd Market Data, total worldwide tonnages dropped by 12 per cent in week 18 (April 29 to May 5), after bouncing back in the previous two weeks from the effects of Easter and Eid holidays.
Tonnages fell in week 18 from all the main global regions, but most significantly from the big Asia Pacific origin region, where volumes were down nearly 16 per cent week on week (WoW).
Roughly one third of that Asia Pacific decline can be attributed to Japan's Golden Week holiday from 29 April to 5 May, which led to a WoW decline of -46 per cent in chargeable weight from Japan origins, based on the more than 450,000 weekly transactions covered by WorldACD's data.
Meanwhile, after booming for two consecutive weeks, buoyed by flower shipments ahead of Mother's Day, tonnages from Central & South America (CSA) declined, WoW, by 14 per cent, of which more than half (54 per cent) can be attributed to the post-peak drop in the flower business. Tonnages ex-Europe fell, WoW, by around 11 per cent, with smaller declines from MESA five per cent, Africa five per cent and North America four per cent.
Further analysis confirms that a large part the WoW decline in week 18 was linked to public holidays around Labour Day on 1 May, which especially impacted Europe, CSA, parts of Asia (eg,. China, Vietnam, Malaysia, Singapore, Thailand) and Africa (eg, South Africa).
For instance, most (84%) of Europe's overall WoW decline of -11 per cent was contributed by countries in which 1 May (Labour Day) is a public holiday. And when looking globally, at least two thirds of the WoW decline is from countries that celebrate Labour Day.
SeaNews Turkey
