Global air cargo tonnages decreased by around 3% during week 38 – between the dates of September 16, and September 22, 2024) - in comparison to the previous week.
World ACD market data shows that the decline was due to national holidays in China, South Korea and Chile. The global 3% drop in flown chargeable weight was primarily driven by a 6% decline – compared to the previous week - from the Asia Pacific region, which accounted for 73% of the total decrease.
During the week, global average rates increased by 4% in Africa, Asia Pacific by 1%, and MESA also up by 4% in comparison to the previous week. These rate increase were balanced out from slight drops from other regions, like North America where rates fell by 2%.
When looking at global tonnages in week 38, they were only 6% higher than the same week in 2023.