Global air cargo volume growth slowed in October but still recorded a stronger-than-expected 4% rise year on year, despite the easing of frontloading of imports by businesses countering the cost of tariffs and effects of the U.S. de minimis ban, according to industry analysts Xeneta.
The latest monthly data supports Xeneta’s forecast in September of overall demand growth of 3% to 4% for 2025, but trends indicate challenging times ahead for airlines and freight forwarders as the market is “definitely starting to favour shippers more than it has for the past few years,” said Chief Airfreight Officer, Niall van de Wouw.
October saw a sixth consecutive monthly fall in global air cargo spot rates, with a 3% decline year on year to US$2.58 per kg. Seasonal contract rates, valid for over a month, fell even faster than spot prices. Averaging US$2.31 per kg, they were down 8% year on year, reflecting a subdued outlook among freight forwarders and carriers.
Read more in a press release from Xeneta.