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Air cargo spot rates hit lowest level in August

The global air cargo spot rates flattened to US$ 2.19 per kg in August, as per the latest weekly market analysis from CLIVE Data Services, part of Xeneta. Niall van de Wouw, Chief Airfreight Officer, Xeneta, said, “We are picking up signals that it could take another few quarters before we see more demand on a global level.” While forwarders continue to benefit from the overall decline of general air freight rates, rising jet fuel prices should concern an already contracted market, with the US gulf coast jet fuel spot price jumping 21 per cent month-over-month. August saw global air cargo capacity rise by 7 per cent year-on-year, while CLIVE’s global dynamic load factor analysis, which measures CLF based on both volume and weight perspectives of cargo flown and capacity available, climbed one percentage point about the previous month to 56 per cent. It is worth noting the August global load factor continued to fall year-on-year, down from 3 per cent of last year’s level.


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