Global air cargo spot rates remained up over 22% in the second week of January 2025, at $2.76 per kilo, compared to the same period a year prior, according to WorldACD market data. This comes despite the typical seasonal drop in early January. This was driven by high rates from Asia Pacific, as well as Middle East & South Asia (MESA) origins.
Compared to the previous week, however, average worldwide spot rates were down 3%.
Average Asia Pacific spot rates dipped 5% in the week compared to the first week of the year, though 27% higher than the same period in 2023. Asia Pacific to USA demand and spot pricing had “stayed surprisingly firm” in the last two weeks of last year, averaging at $6.41 per kilo from Asia Pacific. Asia Pacific to USA tonnages fell 24% in the first week of the January compared to the last week of 2024, but regained 14% in the second week.
“Spot rates have continued to slide, dipping to $5.39 per kilo in week two from Asia Pacific to USA, and sinking to $4.25 from China to USA - although those spot rates still up on a year-on-year basis by 37% and 10%, respectively,” said WorldACD in its report.
The report added that Asia Pacific to Europe tonnages had dropped 40% in the first week of January compared to a week prior, but rebounded 26% in the second week. In addition, MESA origin rates dropped in the first two weeks of this year, but are still 36% above the same period last year.