Airfreight Insights
Read our Airfreight Insights to find out about the latest developments in the global air cargo industry. Get an update on trade and rate developments as well as flexible solutions offered by cargo-partner to deal with the current challenges.
Current market assessment from August 8, 2023:
Once again worldwide air cargo demand continued to decline, confirming the trend seen in recent weeks. In July, tonnages fell by -2%. The year-on-year comparison shows a decrease of -5%.
Despite tonnage increases in certain segments, average rates continued to decline, with a minus of -3% from North America to Central and South America and from Europe to Asia-Pacific and Africa. On the other hand, a slight increase of +1% was recorded from North America to Asia Pacific as well as from Europe to the Middle East and to South Asia.
Comparing the overall global market to this time last year, chargeable weight has decreased while total capacity has increased by +10% year on year. Again, a remarkable double-digit increase of +33% can be seen from Asia-Pacific.
All of these factors have resulted in air freight rates that are over a third lower than last year, although still well above pre-COVID-19 levels.
Tradelane | Capacity | Rate |
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Legend: traffic lights showing current capacity status, arrow indicates possible development of transport rates.
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