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Middle East, Asia drive world cargo tonnages rates

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Air cargo tonnages and rates from key Middle East and Asian origin markets remain highly elevated, especially to Europe, as strong demand and disruptions to ocean freight services meet limited capacity on key lanes, pushing up rates dramatically on several major intercontinental routes.

According to the latest weekly figures and analysis from WorldACD Market Data, worldwide tonnages have rebounded by a further +2% in week 20 following a similar increase the previous week, after dropping by around -8% at the start of May around the Labour Day holidays.

Meanwhile, average global rates remain more or less stable, rising just two cents to US$ 2.48 per kilo in week 20 (13 to 19 May) – which is up, year-on-year (YoY), by around +2% and significantly above pre-Covid levels (+40% compared to May 2019). Tonnages, YoY, are up by +9% globally, although that figure is inflated by strong demand from Asia Pacific (+15%) and Middle East & South Asia (+16%) origins.

The impact on pricing from key South Asia origin markets has increased. Average rates from Bangladesh to Europe in week 20 stand at $4.66 per kilo, almost three times their level this time last year (+186%).

(www. asianaviation.com)

 

The post Middle East, Asia drive world cargo tonnages rates appeared first on DailyNews.

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