Air cargo demand from Asia Pacific origin points partially rebounded in week 19 from the dip in tonnages around Labour Day holidays and Japan’s Golden Week in the first few days of May, although tonnages from some origin regions have yet to bounce back and even Asia Pacific’s partial rebound is weaker than it was in the equivalent week last year. However, global and Asia Pacific tonnages remain higher this year overall.
According to the latest weekly figures and analysis from WorldACD Market Data, total worldwide tonnages were flat in week 19 (6 to 12 May), after dropping by -9 percent the previous week because of public holidays in Europe, Asia, Africa, and Central & South America (CSA). The equivalent week last year saw a +9 percent tonnage rebound following a -9 percent decline the previous week, based on the more than 450,000 weekly transactions covered by WorldACD’s data.
Despite the tonnage volatility in recent weeks, due to Easter and Eid holidays, Mother’s Day in various countries, and Labour Day holidays, average worldwide rates have remained relatively stable in recent weeks, settling in week 19 at US$2.49 a kilo, which is around +2 percent higher than the same week last year and significantly above pre-Covid levels (+41 percent compared to May 2019).