Shipping
Global schedule reliability continues to increase in 2025
Global schedule reliability continues to increase in 2025
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ILA-USMX officially sign six-year port contract through 2030
WORLDACD: GLOBAL TONNAGES AND AVERAGE RATES STABILIZE
April 27, 2023

Global air cargo tonnages and average rates appeared to have stabilized since mid-April after declining for several weeks, according to the latest weekly figures from WorldACD Market Data.

 

Following a sharp drop in chargeable weight in the first full week of April and a continuing slow slide in worldwide average rates since February, figures for week 16 (April 17-23) indicate a stabilization in tonnages and a slight increase in average global air cargo prices, week on week — based on the more than 400,000 weekly transactions covered by WorldACD’s data.

 

The air cargo market data provider said comparing weeks 15 and 16 with the preceding two weeks (2Wo2W), overall tonnages decreased by -5% versus their combined total in weeks 13 and 14, and average worldwide rates decreased by -3%, with stable capacity.

 

It added that at a regional level, the downward trend in air cargo tonnages, on a 2Wo2W basis, is visible from most of the main origin regions, particularly flows ex-Europe – most notably to Africa (-21%), Middle East & South Asia (-16%), Central & South America (-13%), and Asia Pacific (-11%).

 

Meanwhile, the lanes between North America and Central & South America are the only significant exceptions, with the biggest increase ex-Central & South America to North America (+18%).

 

In terms of pricing, WorldACD noted that on a 2Wo2W basis, average rates show a slightly positive trend ex-Central & South America to North America (+3%) and ex-Europe to Africa (+3%); but for all other major air cargo lanes, rates have been decreasing, with the most significant drop seen from North America to Central & South America (-7%).

 

Volumes, rate down year-on-year

 

"Comparing the overall global market with this time last year, chargeable weight in weeks 15 and 16 was down -10% compared with the equivalent period last year," WorldACD said, noting that most notable is the decrease in year-on-year tonnages ex-North America (-21%), while the only other double-digit percent year-on-year drop in tonnages is outbound from Europe (-10%). 

 

It added that overall capacity has jumped by +13% compared with the previous year, with double-digit percentage increases from almost all regions – except from North America (+6%), and Central & South America (+2%). The most notable increases were ex-Asia Pacific (+36%) and ex-Africa (+15%).

 

Worldwide rates are currently -37% below their levels this time last year, at an average of US$2.56 per kilo in week 16, despite the effects of higher fuel surcharges, although they remain significantly above pre-Covid levels.