air cargo market Archives - The Loadstar

Airfreight rates ex-Asia still rising, but ‘no drama’ in a better prepared market

Alex Lennane — Fri, 01 Nov 2024 12:55:12 +0000

Forwarders and data providers are reporting increasingly high airfreight rates out of Asia, expected to hit a new level at the end of November. But the market is not anticipating a ‘crazy’ peak.
Worldwide, air cargo spot rates rose 5% in the last week of October, from a week earlier, with origin Asia Pacific up 3%, Europe up 7% and Central and South America up 8% – although global tonnages remained ...

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Asia Pacific airfreight market on the up, despite manufacturing slowdown

Alex Lennane — Mon, 28 Oct 2024 12:33:25 +0000

The global manufacturing PMI has fallen below 2023 levels for the first time this year – although some countries in Asia continue to enjoy growth, including India and Thailand.
And a further economic slowdown is expected during Q4, noted Dimerco Express Group in its Asia Pacific freight report, out today.
Nevertheless, airfreight out of Asia is going strong, according to the forwarder.
“The traditional peak season began in mid-October, immediately following China’s Golden ...

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Air cargo shifts capacity to where the money is as holiday season begins

Alex Lennane — Tue, 22 Oct 2024 11:05:56 +0000

Airlines are shifting capacity to Asia Pacific-North America as disruption from China’s forthcoming Golden Week holiday recedes, and the Christmas rush starts.
According to the US National Retail Federation (NRF), consumer spending for the holidays is expected to grow between 2.5% and 3.5% on last year, while ecommerce is expected to grow by 8% to 9%, to up to $297.9bn.
“The economy remains fundamentally healthy and continues to maintain its momentum heading ...

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Passenger rush to attend festivals puts a strain on India’s air cargo flows

Angelo Mathais India correspondent — Fri, 18 Oct 2024 10:27:14 +0000

Indian air freight forwarders and shippers are reporting a severe strain on airline bellyhold capacity, due to festival-linked passenger traffic.
Various Indian Hindu festivals run between September and November, with Diwali – the festival of lights — the biggest celebration, starting on 31 October.
Industry sources complain that the cargo capacity crunch is seriously impacting supply chains, especially time-sensitive or perishable cargo movements.
“With the festive season in full swing, the surge in ...

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Air cargo market enjoys some calm before an expected Q4 storm

Alex Lennane — Wed, 16 Oct 2024 11:48:36 +0000

It has been a quiet couple of weeks in airfreight, owing to China’s Golden Week.
Overall rates have edged lower, although are starting to rise again; some European freighter airlines cut capacity to China significantly over the holiday, but that is expected to change.
In North America, shippers had prepared for the east and Gulf coast port strikes by ensuring goods were already in place – discounting the need for emergency airfreighted ...

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Delhi taking the lion’s share of India’s new air cargo capacity

Alex Lennane — Tue, 15 Oct 2024 12:36:19 +0000

Increased demand for airfreight out of India has seen global capacity from the subcontinent rise 7% this year so far – but it’s a tale of two airports, with Delhi taking on the bulk of the extra supply.
As a result, Delhi Airport is becoming congested, according to local forwarders.
Capacity out of the Indian sub-continent to Europe was up 10% last month, year on year, and up 9% year to date, ...

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Air cargo spot rates hit 2024 peak, while Vietnam becomes a hotspot

Alex Lennane — Fri, 11 Oct 2024 10:57:14 +0000

Air cargo spot rates have risen to their highest level this year, despite the recent Golden Week holiday in China.
Tonnages fell by 7% week on week out of Asia Pacific, in the week to 6 October, WorldACD said. But worldwide spot rates went up +1% in the week to $2.84 per kg – their highest level this year.
Asia Pacific rates rose 1%, while Africa was up 2% and Central and ...

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Soaring airfreight rates see Dhaka cargo being moved via China

Bangladesh correspondent — Thu, 10 Oct 2024 12:17:45 +0000

Bangladeshi freight forwarders have started sending air cargo to the US west coast via China, as elevated airfreight rates elsewhere mean this is more cost-effective than using Middle East hubs.
As well as soaring rates out of Dhaka, forwarders have reported hubs in the Middle East as congested in recent weeks, particularly as regional tensions increase and airlines were forced to cancel flights.
Last month, Expo Freight, one of Bangladesh’s biggest forwarders, ...

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Kenyan flower exporters urge airlines to add capacity

Alex Lennane — Wed, 09 Oct 2024 11:47:29 +0000

Kenyan flower exporters have warned that the rate and capacity levels in air cargo are at “critical” levels for farmers.
In the first week of October, according to Rotate’s capacity database, airfreight capacity out of Africa into Europe fell 8%, year-on-year, while out of Nairobi, capacity was down nearly 12%. And rates have risen sharply.
“The rates for this winter season, which started last week, have increased substantially from Kenya,” said Willum Van den ...

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Flexible airfreight must find balanced traffic flows to keep networks in tact

Alex Lennane — Tue, 08 Oct 2024 12:16:00 +0000

The flexibility of airfreight is both a blessing and a curse for shippers: it can easily switch capacity to distressed – and therefore profitable – markets, but consequently leave existing customers in a bind.
Last week, data-driven consultancy Rotate noted how air cargo had “come to the rescue of supply chains” amid the brief ILA strike that sent ocean-shipping supply chains into a spin. Its data showed that Europe-North America freighter ...

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