Airfreight volumes across the Asia Pacific region experienced a robust recovery in mid-May, climbing 11% compared to the previous week. This rebound followed disruptions caused by public holidays earlier in the month. The regional surge played a key role in boosting global air cargo tonnages, which saw a 3% week-on-week increase and a 2% rise year-on-year.
Despite the notable increase in volumes, global spot rates for air cargo remained largely unchanged, holding steady at US$3.67 per kilogram. Concurrently, overall market rates registered a marginal 1% increase.
For freight forwarders and operations managers, this indicates a return to more stable capacity and pricing in the airfreight market, particularly out of Asia Pacific. The stability in spot rates despite increased demand suggests that available capacity is currently sufficient to absorb the higher volumes without immediate upward pressure on prices. Forwarders should monitor these trends for potential shifts in the coming weeks, especially as peak seasons approach, but for now, pricing appears predictable.
