Nov 15, 2024. Weekly Market Updates

Another week, another meet! Dear freight forwarders. 

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Stay ahead in the world of international air freight with Pelicargo's Weekly Market Updates. We provide essential insights into economic trends, air freight demand, rate movements, and everything that matters to keep you informed about the market. 

-Toby Raworth / Commercial Director, Pelicargo (November 15, 2024)

🕓 5 Min Read

Global & Regional Air Freight Rates

Industry News: IATA Expands Screening and Sustainability Goals for 2025

The International Air Transport Association (IATA) predicts an increase in countries requiring advanced information on incoming shipments, a trend that began with the US ACAS program and continued with the EU’s ICS2. With Canada adopting similar measures by November 2024 and anticipated regulations in the UAE and UK in 2025, advanced screening will impact over a third of global air cargo shipments. Despite these strides, IATA reports ongoing challenges with IT systems, including high error rates and system downtime, which could complicate compliance, especially as Europe’s January 2025 mail screening deadline approaches.

IATA also highlights the potential of Africa's air cargo market through its Focus Africa initiative, which aims to enhance safety and connectivity while developing the Single African Air Transport Market (SAATM). Meanwhile, IATA advocates for digitization and AI integration across the industry, emphasizing that well-defined processes are essential for successful digital transformation.

In a push for environmental responsibility, IATA urges air cargo companies to reduce single-use plastic packaging (SUPP) as e-commerce demand surges. While 75% of companies have SUPP reduction strategies, challenges in cost and quality remain. IATA highlights innovative approaches, like Avianca Cargo’s biodegradable pallet covers, as essential steps toward a more sustainable future for the air cargo industry.

Source: IATA, Air Cargo News

Selling Rates from North America

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Market Updates: Toby Raworth

Editorial Revision: Ken Miao

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