International air cargo spot rates continued to rise in the first week of December, increasing 3% week over week, driven mainly by higher rates from Africa, Asia-Pacific and Europe, according to the latest weekly figures from WorldACD Market Data.

Average global spot rates reached US$3.01 per kilo in week 49 (Dec. 1–7), led by an 11% week‑on‑week increase from Africa, a 6% rise from Europe and a 4% gain from Asia-Pacific. Rates from Central and South America fell 7% week over week, largely due to the end of Chile’s cherry export season, which had pushed up prices in recent weeks, particularly for shipments to China.

Worldwide spot rates remain 6% lower than a year ago, with year‑on‑year declines across all major origin regions except Africa.

Asia Pacific rates surge

Spot rates from Asia-Pacific origins have surged over the past six weeks, a trend that continued in week 49 — including on the China‑to‑U.S. lane, which has seen a turbulent year.

Air cargo spot rates from China to the U.S. rose again in week 49 to their highest level of 2024, climbing 8% to US$6.82 per kilo, slightly above last year’s level. Across the broader Asia-Pacific–to–U.S. market, rates increased an average of 6% week over week to US$6.32 per kilo, driven largely by China and a sharp spike in rates from Japan.

Asia-Pacific–to–Europe spot rates also rose, increasing 5% week over week to US$4.65 per kilo, supported by higher rates from Japan and Southeast Asian origins including Thailand, Malaysia and Singapore.

Volumes in week 49 were flat week over week on Asia-Pacific–to–U.S. routes. Tonnages from China, Hong Kong, Japan and South Korea were up from the previous week, while volumes from Thailand and Malaysia fell 8%. Overall Asia-Pacific export volumes remain 6% higher than a year ago for the third consecutive week.

Asia-Pacific–to–Europe volumes edged up 1% week over week, with increases from Japan, South Korea, Vietnam and Malaysia offsetting declines from Thailand. Total volumes on the lane are 7% higher than last year.

Thanksgiving recovery

Global air cargo tonnages edged up 1% from week 48 to week 49, despite a 1% week‑on‑week decline from Asia-Pacific origins, which typically drive the year‑end rise in demand and pricing.

WorldACD noted that this year’s peak season has been "less pronounced" than usual, but the modest global increase in week 49 was almost entirely due to a rebound in U.S. volumes following the Thanksgiving slowdown.

North America tonnages rose 15% week over week after dropping 15% in week 48. Without that recovery, global volumes would have been flat. Even so, WorldACD said worldwide tonnages remain about 5% higher than a year ago, with strong year-on-year growth from Asia Pacific (+9%), Central and South America (+8%), the Middle East and South Asia (+6%) and North America (+4%).

Overall, week 49 trends largely mirror last year’s global patterns, although some markets — particularly U.S. inbound — have seen notable shifts.

India‑to‑U.S. volumes have also rebounded despite higher U.S. import tariffs imposed earlier this year that initially depressed traffic.

Tonnages have held steady in recent weeks and have exceeded year‑ago levels for five consecutive weeks.