Air cargo rates and cargo demand from Middle East and South Asia (MESA)- are up by YoY 17 per cent, as per the latest WorldACD data. This is despite a cooling down in demand in weeks 10 and 11.
This could be related to decreasing capacity in the past two weeks, since the start of Ramadan, although the impact would be much stronger by the end of Ramadan. According to the latest weekly figures from WorldACD data, combined export tonnages from Asia Pacific origin points rose by 8 per cent in weeks 10 and 11 (4-10 March and 11-17 March), compared with the previous two weeks (2Wo2W), and by 10 per cent compared to the same period last year.
Average rates from Asia Pacific origin points also rose by 8 per cent in weeks 10 and 11, compared with the previous two weeks, although, like most origin regions, rates were down on a year-on-year basis, which is not surprising given that available capacity ex-Asia Pacific is up 19 per cent YoY.