Global air cargo volumes experienced a 9% week-on-week decline during Week 22, largely attributed to holiday-related disruptions. The Middle East, South Asia, and Africa (MESA) region saw the most substantial drop at 21%, followed by Africa with a 20% decrease. Asia Pacific and Central South America (CSA) recorded more moderate reductions in volume.
Capacity also decreased, albeit less sharply, with a 1% global week-on-week reduction, primarily driven by a 6% fall in the MESA region. Despite these declines in both volume and capacity, global airfreight rates surprisingly increased by 2%, reaching an average of US$3.29 per kilogram. This upward trend in pricing suggests that underlying demand or operational factors continue to support higher rates.
For freight forwarders and operations managers, this data indicates a temporary dip in available air cargo space and volume due to seasonal holidays. However, the concurrent rise in rates suggests that even with less cargo moving, the cost of airfreight remains firm or is increasing. Forwarders should anticipate potential rate stability or further increases despite volume fluctuations, and plan their bookings accordingly, especially for urgent shipments or those from affected regions.
