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  • Writer's pictureTeam CargoTalk

Global cargo demand rises by 11% in February over last month



February 2024 witnessed an upward curve for airlines and freight forwarders with cargo demand increasing by 11 per cent year-on-year, according to Xeneta’s latest weekly market analysis.


The average global cargo spot rate in February rose by 2 per cent from the previous month to US$2.29 per kg. The global air cargo market’s positive start to this year continued into February with a second consecutive month of double-digit growth in demand and an uptick in general freight spot rates.


In what is traditionally a slower time of the year for air freight volumes, the average global cargo spot rate in February rose by 2 per cent from the previous month to US$2.29 per kg. “It is a surprising start to the year from volumes perspective, and not something people would have expected, with demand much higher than it was a year ago.


Generally, we would not expect to see a rate uptick this time of the year—it is mainly due to the Red Sea disruption,” said Niall van de Wouw, Chief Airfreight Officer, Xeneta.

 

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