Global Air Cargo Tonnages Down by 5% in July: WorldACD
Matti Blume

Global Air Cargo Tonnages Down by 5% in July: WorldACD

Market may be stabilising at around -5% below its levels last year

 July air cargo demand globally continued the pattern of the previous two months, recording a -5% tonnage decrease worldwide compared with the equivalent month last year, and a further small drop (-2%) compared with the previous month, according to the latest figures from WorldACD Market Data.

The July figures, based on the 2 million monthly transactions covered by WorldACD’s data, follow -5% year-on-year declines in both May and June, suggesting that the market may be stabilising at around -5% below its levels last year, with average yields continuing their slow but progressive weekly and monthly declines.

Figures for week 30 (24 to 30 July) show a -1% decrease in tonnages compared with the previous week, while average worldwide air cargo prices were stable, week on week (WoW), based on the more than 400,000 weekly transactions covered by WorldACD’s data.

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Comparing weeks 29 and 30 with the preceding two weeks (2Wo2W), overall tonnages and capacity were stable versus their combined total in weeks 27 and 28, and average worldwide rates were down by -1%.

Slight decreases were recorded ex-Middle East & South Asia to Asia Pacific (-3%), ex-Asia Pacific to Europe (-3%), and intra-Asia Pacific (-3%).

On the pricing side, average rates show a slight decrease (2Wo2W), on a regional level. A small increase of +1% was recorded on the lanes ex-North America to Asia Pacific, ex-Europe to Middle East & South Asia, and ex-Africa to Europe.

Year-on-Year perspective

Comparing the overall global market with this time last year, chargeable weight in weeks 29 and 30 was down -5% compared with the equivalent period last year (YoY).

Overall capacity has increased by +10% compared with last year, with capacity ex-Asia Pacific up by a noteworthy +33%. Other notable YoY capacity increases can be observed ex-Middle East & South Asia (+11%).

Worldwide average rates are currently -38% below their levels this time last year, at an average of US$2.27 per kilo in week 30, although they remain significantly above pre-Covid levels (+28% compared to July 2019).

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