Average worldwide air cargo volume slipped 1% during the first full week of August – compared to the previous week – while rates continued to remain steady.
According to the latest figures from WorldACD Market Data, average global spot rates rose by a further 3% in the first full week of August compared with the start of July, to $2.71 a kilo, which is up by 22%. Contract rates in the same period remained flat at $2.40. The full-market average of spot rates and contract rates of $2.50 is up 46% compared with the last pre-Covid equivalent period of August 2019.
Based on the more than 450,000 weekly transactions covered by WorldACD’s data, average worldwide pricing went up slightly by 1% in week 32 (August 5-11) compared with the previous week, with rates from Africa origins down 2%, but rates from the other main global origin regions holding firm or increasing slightly.
When looking at specific global regions, tonnages out of China to the US decreased further compared to the previous week – dropping by 7% - this was the fourth decline in five weeks. Tonnages out of Vietnam to Europe decreased by 6%from week 31.
The Asia/Pacific to the US has remained a key sector in driving up overall average prices since the end of June, with spot rates averaging slightly above $5.80 a kilo in the last three weeks. Compared with the same week in 2023, spot rates from Asia Pacific to the USA were up by 64%.
Worldwide cargo data shows slip in volume during week 32
