Eid Weakens demand but rates hold firm – Asian Aviation

Following successive weekly rises since the end of February, average global air cargo rates held steady in the second week of April – equaling their level in the equivalent week the previous year for the first time since mid-2022 – despite a drop in tonnages partly linked to Eid.

According to the latest weekly figures and analysis from WorldACD Market Data, total worldwide tonnages fell by -3% in week 15 (8-14 April), with particularly big week-on-week (WoW) declines from predominantly Muslim countries including Pakistan, Bangladesh and the UAE.

Average global rates remained flat in week 15 at US$2.52 per kilo, following consecutive weekly WoW rises of between +2% and +3% in the previous six weeks, equaling their level in week 15 last year and significantly above pre-Covid levels (+40% compared to April 2019), based on the more than 450,000 weekly transactions covered by WorldACD’s data. Average worldwide rates peaked at US$4.28 per kilo in late 2021 and mostly continued falling until the second half of last year, when they stabilized at around $2.30 per kilo and recovered somewhat in the fourth quarter (Q4) last year, and again since late February 2024.

https://asianaviation.com/worldacd-eid-weakens-demand-but-rates-hold-firm/

Eid Weakens demand but rates hold firm – Asian Aviation

Following successive weekly rises since the end of February, average global air cargo rates held steady in the second week of April – equaling their level in the equivalent week the previous year for the first time since mid-2022 – despite a drop in tonnages partly linked to Eid.

According to the latest weekly figures and analysis from WorldACD Market Data, total worldwide tonnages fell by -3% in week 15 (8-14 April), with particularly big week-on-week (WoW) declines from predominantly Muslim countries including Pakistan, Bangladesh and the UAE.

Average global rates remained flat in week 15 at US$2.52 per kilo, following consecutive weekly WoW rises of between +2% and +3% in the previous six weeks, equaling their level in week 15 last year and significantly above pre-Covid levels (+40% compared to April 2019), based on the more than 450,000 weekly transactions covered by WorldACD’s data. Average worldwide rates peaked at US$4.28 per kilo in late 2021 and mostly continued falling until the second half of last year, when they stabilized at around $2.30 per kilo and recovered somewhat in the fourth quarter (Q4) last year, and again since late February 2024.

https://asianaviation.com/worldacd-eid-weakens-demand-but-rates-hold-firm/

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