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Global air cargo volumes rose by 10% year on year in January as shippers’ concerns over hostilities in the Red Sea and an early Lunar New Year more than compensated for an anticipated post-Christmas drop in ecommerce traffic, according to the latest weekly market analysis by Xeneta.
With plenty of available air cargo capacity in what is traditionally a quieter month for demand, however, fuller cargo holds are yet to translate into higher rates. Globally, general air cargo spot rates in January declined 12% month on month, to an average US$2.27 per kg, consistent with the trend of the global dynamic load factor, which dropped three percentage points to 56% versus December. Xeneta’s dynamic load factor analysis measures air cargo capacity utilization by considering both cargo volume and weight perspectives of cargo flown and capacity available.
Overall, the year-on-year growth of global air cargo market supply slowed down in January, as much of the missing capacity was restored last year.
Read more in an article from the American Journal of Transportation.