Worldwide average air cargo spot rates rose to a new 2024 high in the first full week of September, boosted by a surge in tonnages and spot rates from Asia Pacific origins, particularly to North America and Europe, according to the latest figures and analysis from WorldACD Market Data.

Average global spot rates increased by +6% to US$2.85 per kilo in week 36 (2-8 September), compared with the previous week, +30% higher than the equivalent week last year, thanks to week-on-week (WoW) increases of +6% from Asia-Pacific origins and +7% from Middle East & South Asia (MESA) origins, taking spot rates from those regions +41% and +101% higher, year on year (YoY). Average worldwide contract rates also edged up by a further +3% to $2.48 a kilo, generating a $2.59 per kilo full-market average of spot rates and contract rates – a WoW +3% rise and a YoY increase of +16%. That’s an increase of +51% compared with the last pre-Covid equivalent period, September 2019.

Worldwide tonnages edged downwards by -1% in week 36, due largely to a -12% decrease from North America origins linked to Labor Day holidays on 2 September in the USA and Canada.

https://aircargoupdate.com/global-air-cargo-spot-rates-hit-2024-high-amid-asia-pacific-surge/