World ACD: Air cargo rates finally stabilise
Global air cargo tonnages have continued to slide downwards in November, normally a buoyant month in the air freight calendar, with a further steep decline in week 47 (21 to 27 November) led by falling volumes to and from North America (-20%).
The decrease in chargeable weight has been mainly caused by Thanksgiving in USA, but World ACD also sees the declining trend of recent months continuing worldwide.
Although there have been no signs of the usual seasonal uplift in rates, average prices have stabilised from most origin regions compared to previous weeks, with rates ex-Latin America showing even a positive trend (+9%). Worldwide rates are -25% below their levels this time last year, despite the effects of higher fuel surcharges, but they remain "significantly above pre-Covid levels". (ah)