JULY air cargo demand globally continued the pattern of the previous two months, posting a five per cent year-on-year tonnage decline worldwide as well as a two per cent drop from the previous month, according to the latest figures from WorldACD Market Data.
The July figures, based on the two million monthly transactions covered by WorldACD's data, follow five per cent year-on-year declines in both May and June, suggesting that the market may be stabilising at around five per cent below its levels last year, with average yields continuing their slow but progressive weekly and monthly declines.
Figures for week 30 (24 to 30 July) show a one per cent decrease in tonnages compared with the previous week, while average worldwide air cargo prices were stable, week on week (WoW), based on the more than 400,000 weekly transactions covered by WorldACD's data.Comparing weeks 29 and 30 with the preceding two weeks (2Wo2W), overall tonnages and capacity were stable versus their combined total in weeks 27 and 28, and average worldwide rates were down by one per cent.
At a regional level, significant rises in tonnages were recorded (2Wo2W) ex-North America to Central & South America (+13 per cent) and Europe (+5 per cent), ex-Middle East & South Asia to Europe (+6 per cent), and also ex-Europe to Africa (+5 per cent). Slight decreases were recorded ex-Middle East & South Asia to Asia Pacific (-3 per cent), ex-Asia Pacific to Europe (-3 per cent), and intra-Asia Pacific (-3 per cent).
On the pricing side, average rates show a slight decrease (2Wo2W), on a regional level, for the lanes ex-Europe to Asia Pacific and Africa (-3 per cent), ex-North America to Central & South America (-3 per cent), and ex-Central & South America to Europe (-3 per cent). A small increase of +1 per cent was recorded on the lanes ex-North America to Asia Pacific, ex-Europe to Middle East & South Asia, and ex-Africa to Europe.
Comparing the overall global market with this time last year, chargeable weight in weeks 29 and 30 was down -5 per cent compared with the equivalent period last year (YoY), with strong decreases in tonnages ex-North America (-17 per cent) and ex-Europe (-9 per cent). The most notable increase was recorded ex-Middle East & South Asia (+6 per cent).
Overall capacity has increased by +10 per cent compared with last year, with capacity ex-Asia Pacific up by a noteworthy +33 per cent. Other notable YoY capacity increases can be observed ex-Middle East & South Asia (+11 per cent), ex-Africa (+9 per cent) and ex-North America (+7 per cent), while a decrease was recorded from Central & South America (-7 per cent).
Worldwide average rates are currently -38 per cent below their levels this time last year, at an average of US$2.27 per kilo in week 30, although they remain significantly above pre-Covid levels (+28 per cent compared to July 2019).
SeaNews Turkey
The July figures, based on the two million monthly transactions covered by WorldACD's data, follow five per cent year-on-year declines in both May and June, suggesting that the market may be stabilising at around five per cent below its levels last year, with average yields continuing their slow but progressive weekly and monthly declines.
Figures for week 30 (24 to 30 July) show a one per cent decrease in tonnages compared with the previous week, while average worldwide air cargo prices were stable, week on week (WoW), based on the more than 400,000 weekly transactions covered by WorldACD's data.Comparing weeks 29 and 30 with the preceding two weeks (2Wo2W), overall tonnages and capacity were stable versus their combined total in weeks 27 and 28, and average worldwide rates were down by one per cent.
At a regional level, significant rises in tonnages were recorded (2Wo2W) ex-North America to Central & South America (+13 per cent) and Europe (+5 per cent), ex-Middle East & South Asia to Europe (+6 per cent), and also ex-Europe to Africa (+5 per cent). Slight decreases were recorded ex-Middle East & South Asia to Asia Pacific (-3 per cent), ex-Asia Pacific to Europe (-3 per cent), and intra-Asia Pacific (-3 per cent).
On the pricing side, average rates show a slight decrease (2Wo2W), on a regional level, for the lanes ex-Europe to Asia Pacific and Africa (-3 per cent), ex-North America to Central & South America (-3 per cent), and ex-Central & South America to Europe (-3 per cent). A small increase of +1 per cent was recorded on the lanes ex-North America to Asia Pacific, ex-Europe to Middle East & South Asia, and ex-Africa to Europe.
Comparing the overall global market with this time last year, chargeable weight in weeks 29 and 30 was down -5 per cent compared with the equivalent period last year (YoY), with strong decreases in tonnages ex-North America (-17 per cent) and ex-Europe (-9 per cent). The most notable increase was recorded ex-Middle East & South Asia (+6 per cent).
Overall capacity has increased by +10 per cent compared with last year, with capacity ex-Asia Pacific up by a noteworthy +33 per cent. Other notable YoY capacity increases can be observed ex-Middle East & South Asia (+11 per cent), ex-Africa (+9 per cent) and ex-North America (+7 per cent), while a decrease was recorded from Central & South America (-7 per cent).
Worldwide average rates are currently -38 per cent below their levels this time last year, at an average of US$2.27 per kilo in week 30, although they remain significantly above pre-Covid levels (+28 per cent compared to July 2019).
SeaNews Turkey