Global cargo rates increase gradually in third week of May

Global air cargo rates have been “gradually increasing” in the week of May 20 to 26, while tonnage has been “decreasing slightly”, according to data from WorldACD. Average global rates remain stable, rising just three cents to $2.50 per kilo in the week, up approximately 4% year-on-year (YoY), and significantly above pre-Covid levels at 41% above May 2019 levels. Worldwide tonnages decreased slightly by 2%, compared to the previous week, after a rebound in weeks 19 and 20 (6 to 19 May), which saw a combined increase of 5%. Though, tonnages are up 9%, YoY for the last two weeks,