Airfreight tonnages rebound in May
After a sharp decline in April, global air cargo volumes rose by 4% month-on-month in May, according to World ACD.
The recovery was driven by a trans-Pacific rebound, following the partial rollback of new US tariffs on low-value imports from China. Year-on-year, May volumes were also 4% higher. The Asia-Pacific region and Europe saw the strongest annual growth.
However, average airfreight rates dropped 4% m-o-m and 3% y-o-y, reflecting the market’s rate pressure. In week 22 alone, overall tonnages declined by 8%, due to public holidays in Europe and the US.
Spot prices from China and Hong Kong to the US rose slightly w-o-w, but remained below 2024 levels. The China–Europe trade lane saw similar modest gains. Despite volatility, global spot rates are now 2% above last year’s figures. (ah)