Global air cargo rates and demand edged slightly further upwards in the second full week of March, according to figures from WorldACD Market Data. Middle East & South Asia (MESA) the only major origin region registering a drop in tonnages, according to the latest weekly figures from WorldACD Market Data.
Worldwide tonnages in the week of March 10 to 16 gained a further 1% compared with the previous week, taking them 3% higher on the same period last year. The gain was was driven by increases from central & south America, which were up 4% and Asia Pacific markets, up 3%. The latter market continues to recover from the Lunar New Year lull. However, there was a 4% decrease in flown tonnages from MESA origins, partly linked to business closures during the Hindu spring festival Holi in India.
Average spot rates from Asia Pacific to Europe in the week were similar to the previous, averaging at $3.92 per kilo. China to Europe rates dropped a further 2% to $3.87 per kilo. From Asia Pacific to the USA, average spot rates of $4.91 per kilo in the week were almost flat, only down 1% on the previous week, and 11% above their equivalent level last year.