Global air cargo tonnages continued to build in the full week of January, ahead of Lunar New Year (LNY) on 10 February, taking volumes for the last two weeks and for January well above their levels this time last year, as per WorldACD.
Although the figures are skewed by LNY falling on 22 January last, with the week following LNY seeing a drop in tonnages ex-Asia Pacific.
Nevertheless, there has been an underlying trend of higher year over year tonnages for several months, boosted by strong e-commerce traffic demand ex-Asia Pacific since the Q4 of last year and with some limited conversion of sea freight to air and sea-air cargo in recent weeks due to the disruptions to container shipping in the Red Sea.
Initial figures 22-28 January indicate global air cargo tonnages rose by 5 per cent against the previous week, following a 25 per cent WoW rise in week 2 and 4 per cent increase in week 3, taking tonnages back up close to their levels in the final weeks of Q4.
Average global prices have remained relatively stable throughout January, at an average of US$2.33 a kilo, compared with around US2.60 in early to mid-December.