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  • Writer's pictureTeam CargoTalk

ME cargo capacity for Aug up by 7% from 2022: Xeneta

Cargo capacity for August was up by 7 per cent on last year and the dynamic load factor—considering both volume and weight—improved by three percentage points to 56 per cent, as per the latest data from Xeneta-owned CLIVE Data Services. Demand in chargeable weight terms in the same month declined by 1 per cent year on year for the fourth month in a row—an improvement at least on the first four months. Niall van de Wouw, Chief Air Freight Officer, Xeneta said, “The latest figures undermine reports of a volume spike in August and hopes of a demand pick-up over the final four months of 2023.” Due to capacity shortage triggered by various geopolitical issues, air freight spot rates ex Northeast Asia to ME & Central Asia, Northeast Asia to Europe, China to the USA and China to Europe remained highly elevated, up by 55 per cent from 2019. Although air cargo declines have narrowed down in recent months, there are few signs the industry will enjoy a peak season despite some expressing hopes of a recovery in the final months of the year.

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