As per the WorldACD report, air cargo rates and tonnages from the Middle East and Asia to Europe remain high due to strong demand and ocean freight disruptions.
Air cargo rates and tonnages from the Middle East and Asia to Europe remain significantly elevated, driven by strong demand and disruptions in ocean freight services. According to the latest weekly figures and analysis from WorldACD Market Data, worldwide air cargo tonnages rebounded by 2 percent in week 20, following a similar increase the previous week. This recovery comes after an approximate 8 percent drop at the start of May due to the Labour Day holidays.
Despite the rise in tonnages, average global rates have remained relatively stable, increasing slightly by two cents to $2.48 per kilo in week 20 (May 13–19). This rate is up 2 percent year-on-year and remains 40 percent above pre-COVID levels from May 2019. Globally, air cargo tonnages are up by 9 percent year-on-year, with particularly strong demand from Asia Pacific (+15 percent) and the Middle East and South Asia (MESA) regions (+16 percent).
On a week-on-week and two-week-on-two-week basis, average global and regional rates are relatively stable. However, compared to last year, average rates from MESA are notably high, showing a 45 percent increase. Specifically, rates to Europe from MESA origins have more than doubled (+119 percent) compared to the same period last year, maintaining this trend for the past seven weeks, according to the WorldACD’s data, which covers over 450,000 weekly transactions.
New analysis by the WorldACD highlights that tonnages from MESA to Europe have surged by 31 percent year-on-year over the last two weeks, with Dubai being a major contributor, showing a 148 percent increase in origin growth points. This spike is largely due to the strong sea-air cargo demand driven by disruptions in container shipping through the Red Sea. Additionally, tonnages from Sri Lanka and Bangladesh have risen by 57 percent and 28 percent, respectively, further contributing to the overall increase in the MESA region.
These trends underscore the continuing strong demand for air cargo services from key Middle Eastern and Asian markets to Europe amidst ongoing logistical challenges.
