Name: Pelicargo
Address: 770 Massachusetts Ave, 390054, Cambridge, MA 02139, US
Telephone: +1-857-322-7354

Airline Product Freight Free Resources Contact

Oct 24, 2024. Weekly Market Updates

Invalid date

Another week, another meet! Dear freight forwarders.

Let's Talk Numbers!

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 (October 24, 2024)

🕓 5 Min Read

Global & Regional Air Freight Rates

Industry News: Cargo Revenues in Americas and Europe Trail Global Market Trends

Airline cargo revenues from the Americas and Europe have struggled despite overall global market growth. Data from WorldACD reveals that while North America and Europe saw increases in chargeable weight (4% and 8% respectively), these gains were outweighed by significant rate declines, leading to revenue drops of 12% for North America and 16% for Europe. South America faced similar challenges, with weight up by 6% but rates falling, resulting in stagnant revenue performance.

In contrast, regions like the Middle East & South Asia (MESA), Asia Pacific, and Africa recorded substantial gains, with MESA seeing a 62% rise in revenues driven by a 19% increase in tonnage and 36% rise in rates. Improvements in e-commerce have also shifted the cargo landscape, as general cargo volumes outpaced special cargo by growing 13% year on year, largely due to strong cross-border e-commerce demand.

Despite challenges in the Americas and Europe, WorldACD notes positive trends, with improvements by September and signs of broader sales growth driven by increased air cargo demand worldwide.

Source: WorldACD, STAT Trade Times, Air Cargo News