WorldACD's December data ends year with 1.7pc fall in cargo volume
THERE is little to cheer about in the WorldACD (Air Cargo Data) report about the impact of 2019's challenging political economic conditions marked by a 1
THERE is little to cheer about in the WorldACD (Air Cargo Data) report about the impact of 2019's challenging political economic conditions marked by a 1.7 per cent year-on-year decrease in cargo volumes worldwide for December, reports New York's Air Cargo World.
Overall, WorldACD said the results for the full year 2019 'were not impressive.' Worldwide revenue, measured in US dollars, for the entire year fell by 11.7 per cent, and did not grow compared with 2017. WorldACD attributed the decline to a yield drop of 7.6 per cent, as total weight fell by 4.4 per cent.
Only high tech and pharmaceuticals saw growth of 8.5 per cent in volume for 2019, but their yield drops, though not as steep as in general cargo, were cause for concern for the airlines, WorldACD said.
Looking more closely at the performance of various regions over the course of 2019, Europe as an origin point was the 'hardest hit' in 2019, and lost more than 16 per cent of its revenues compared to the previous year, with Germany accounting for half of Europe's decline.
Consistent with reports during the course of 2019, Africa and Latin America fared better than the larger regions in the Northern Hemisphere. While revenue for Asia Pacific and Europe outbound was slightly better than inbound, the opposite was the case for North America.
This may then suggest where the consequences of the US-China trade war on air cargo were most felt, although they are not easy to pinpoint, according to WorldACD.UPS outlook