9 January 2024
Freight News

Airfreight Rates Bounce Back to 50% Above Pre-COVID Levels

Preliminary figures for week 50 (December 11 to 17) indicate that global tonnages and average worldwide rates were stable compared with the previous week, after recovering more quickly than last year from the seasonal post-Thanksgiving dip last month, based on the more than 400,000 weekly transactions covered by WorldACD’s data.

Comparing weeks 49 and 50 this year with the preceding two weeks (2Wo2W), overall tonnages increased 1%, and overall global average rates continued to rise, by 2%, with capacity up 1%. The figures indicate that demand and pricing are levelling off, as they usually do in the second half of December, after rallying in the last three months.

Although the main driver for the recent increases has been a surge in tonnages and rates ex-Asia Pacific, especially China, volumes ex-Asia Pacific have now flattened, although there have still been some modest rises in average rates ex-Asia Pacific, especially to North America (+4%), on a 2Wo2W basis.

Read more in an article from Air Cargo Week.

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