Recent weeks have witnessed a substantial surge in tonnages at several key Asia-Europe sea-air hubs as shippers turn to alternative logistics solutions amidst disruptions to container shipping caused by attacks on ships in the Red Sea, according to WorldACD Market data.
Notable hubs such as Dubai, Colombo and Bangkok have reported an influx of air cargo as cargo owners rush to replenish stocks in Europe. The redirection of container ships around the Cape of Good Hope, due to the Suez Canal disruptions, has contributed to this surge.
Dubai-Europe traffic is up by 71% in the first seven weeks of 2024 compared to the same period last year. Similarly, Colombo-Europe tonnages are up by 61%, while Bangkok-Europe volumes increased by 58%.
Despite reports of increased traffic via Singapore and Doha, their tonnages to Europe saw smaller year-on-year increases of just 10% and 3%, respectively.
The later timing of Lunar New Year, landing on February 10, complicates precise comparisons, but the trend of elevated tonnages to Europe from these hubs persists. However, it remains uncertain whether this heightened demand for sea-air solutions will continue beyond the Lunar New Year period.
On a global scale, there has been a traditional seasonal decline in demand following Lunar New Year, resulting in a -10% decrease in overall tonnages in week 7. Average global rates have seen a week-on-week drop of -6% in week 7 compared to the same period last year, yet they remain significantly above pre-Covid levels.
Overall worldwide air cargo capacity remains notably higher than last year, particularly ex-Asia Pacific and ex-Middle East & South Asia.
Asia-Europe sea-to-air hubs see surge in tonnages
