Air cargo volumes climb 9% as rates rise 34%

Air cargo volumes rose 9% year on year in the week ending 11 October, while capacity from Gulf markets fell 4% week on week, according to WorldACD Market Data. Despite the regional decline, global air cargo capacity was around 1% higher than a year earlier.

The figures highlight changing capacity and pricing across key air freight markets, with implications for airlines, freight forwarders and shippers moving goods through the Middle East and other major trade routes.

Gulf air cargo capacity remained 20% below its late-February level, while spot rates from the Middle East and South Asia declined 2% during the week. The Gulf’s 4% capacity increase in week 40 was reversed the following week.

Elsewhere, spot rates from Africa rose 10% week on week, offsetting declines in other regions. Asia-Pacific spot rates fell 3%, alongside a 1% drop in tonnage from the region.

Worldwide spot rates remained steady at US$3.55 per kg, while full-market rates, combining spot and contract shipments, held at $3.13 per kg. Global spot rates were 34% higher than a year earlier.

Global air cargo capacity growth and higher year-on-year volumes point to continued activity across international freight networks, with regional capacity and pricing remaining important factors for supply chain planning.