Global average air cargo rates now stand +50% above their pre-Covid levels this time four years ago following the significant rebound in the last few months in demand and pricing, especially ex-China, according to the latest figures from WorldACD Market Data.
Preliminary figures for week 50 (11 to 17 December) indicate that global tonnages and average worldwide rates have been stable compared with the previous week, after recovering more quickly than last year from the seasonal post-Thanksgiving dip last month.
Taking a year-on-year perspective (YoY), total global tonnages in weeks 49 and 50 have continued to strengthen against their levels this time last year, now standing +5% higher than in the equivalent period 12 months ago – driven by a +16% YoY increase ex-Asia Pacific and a +10% rise ex-Middle East & South Asia,.
Worldwide average rates are currently -16% below their levels this time last year, at an average of US$2.69 per kilo in week 50, although they remain significantly above pre-Covid levels (+50% compared to December 2019).
Read More: Peak Season Air Cargo Tonnages Up 3% on Last Year