Air Cargo Spot Rates Hold Firm Thanks to Demand from Middle East and Asia

Air Cargo Spot Rates Hold Firm Thanks to Demand from Middle East and Asia

Average rates remained more or less stable last week at US$2.51/ kilo up by 8% year-on-year

Air cargo rates are holding firm during what is traditionally a quieter period for the market, boosted by continuing strong demand and high spot rates from Middle Eastern and Asian origins, according to the latest weekly figures and analysis from WorldACD Market Data.

Although total worldwide tonnages in the last full week (week 24, 10-16 June) slipped by -2%, average rates remained more or less stable at US$2.51 a kilo, up +8% compared with the equivalent week last year and significantly above pre-Covid levels (+42% compared to June 2019).

Combining the figures for the last two full weeks (weeks 23 and 24) reveals a +1% rise in both rates and tonnages compared with the previous two weeks (a ‘two-week on two-week’ or ‘2Wo2W’ comparison).

But comparisons with last year show that both tonnages (+11%) and rates (+8%) are well above last year’s levels, thanks to significantly higher demand from all the main worldwide origin regions.

Read More: Middle East Air Cargo Carriers See 9.4% Annual Growth in April 2024

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