Rates continue to rise despite holiday periods
Despite a fall in tonnages from most regions linked to holiday periods such as Easter, Ramadan, and Qingming Festival, worldwide air cargo rates have continued to rise into the first week of April.
According to the latest weekly figures and analysis from World ACD Market Data, average global rates rose, week on week, by over +2% in week 14 (1-7 April) to USD 2.54 per kg, following consecutive weekly WoW rises of between +2% and +3% last month - just -1% of their level in week 14 last year, but 41% above April 2019.
The data reveals a big surge in spot rates from Middle East and South Asia (Mesa) to Europe in recent weeks, especially from India and Bangladesh. In a wider perspective, Mesa was the only origin region to record a YoY increase in rates (+39%, based on a mix of contract rates and spot rates). (ah)