Global air cargo demand dropped around 5% in the first week of July, compared to the previous week, largely due to the impact of the US Independence Day holidays, according to WorldACD market data. However, average worldwide rates remain high - up 2% over the previous week - with sustained growth from Asia Pacific origins.
North America tonnages fell 13% in the week compared to the prior week as Fourth of July celebrations took hold across the US. It also contributed to an 8% drop from central & South America (CSA). In addition, Europe and Asia Pacific origin tonnages dropped 4% and 3% respectively.
Average global rates were $2.57 per kilo in the week, up 2% compared to the previous and up 14% over the same period last year. The rates were largely driven by a 3% rise over last week from Asia Pacific origins.
Air cargo demand dips due to US Independence Day, rates remain high from Asia
