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  • Writer's pictureTeam CargoTalk

Global air cargo tonnages drop in first week of 2024: WorldACD

Worldwide air cargo tonnages dropped in the first week of 2024 following a slump in the second half of December, as per the latest figures from WorldACD Market Data. Preliminary figures for the first week (1-7 January) indicate global air cargo tonnages fell by 6 per cent as against the previous week (WoW), based on 400,000 weekly transactions covered by WorldACD’s data, after falling by 30 per cent in the second half of last month, while average worldwide rates dropped by 2 per cent in first week of 2024 after falling by 7 per cent in second half of December 2023. The main lanes that contributed to the WoW decline in tonnages at 6 per cent were ex-APAC, North America, Middle East and South Asia (both fell by 17%), and intra-Asia Pacific fell by 13 per cent. Tonnages between Asia Pacific and Middle East and South Asia were less affected by the end-of-year declines, but were still down 16 per cent in both directions, while intra-Asia Pacific volumes fell by 32 per cent, on a 2Wo2W basis.

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