Global Air Cargo Tonages dropped slightly (+3%) in week 6 (3 to 9 February) from their moon -new year (LYNY) baptism the previous week, although the average rates fell further, especially of the Pacific, According to the latest weekly figures and analysis by world market data.
The cards in the PDF report contain our latest views on the development of air freight markets.
Global rates, based on a complete average average of the place rates and contract rates, have dropped -week (WOW), with -5%, to $ 2.30 per kilo, with average prices of -3% below their level this time Last year, although that comparison rate is twisted by the later timing in 2024 of the New Year of the Moon. The drop of the prices of Week 6 is mainly driven by a wow drop of -11% of the Ospisifical Origins of Asia, based on the more than 500,000 interactions covered by the Worldacd Database. The average global location rates were -3%, wow, up to $ 2.55 per kilo, with place prices of the Pacific Ocean of Asia dropping from -8% to $ 3.56 per kilogram. But both were +7% higher, yoy.
Meanwhile, the question of the Middle East and South Asia (Mesa) originated slightly (-1%), wow, and on a global basis it dropped -7% below their level in week 6 last year. And rates also dropped slightly (-4%), wow, to $ 2.99 per kilogram, although on average +39%, to average destinations worldwide. For Europe, the picture is somewhat different, with Mesa to Europe tunes now far below (-21%) their level this time last year-although it mostly reflects the boom in volumes about the trade last year due to the disruption of the holder of the holder holder the Red Sea. The place rates from Mesa to Europe with an average of $ 2.48 in week 6 are well lower at their increased levels during the second half of last year, although it is still higher than 32% compared to week 6 last year.
China to the US confusion
With lny falling on January 29 this year, it was no surprise that tonnes of China to the US fell steep in the surrounding days and weeks, fell -20%, wow, in week 5 and a further -28% In week 6, Tonages take -41% lower, yoy. Hong Kong to US tons of tunes also dropped sharply, with -22%, wow, in week 5 and -13% in week 6. It is difficult to separate how much of the decline is simply linked to the annual holidays and factory closures in China In the weeks before and after, and how many are stemmed from the sudden decision of the Trump administration to recall access to Article 321 customs ‘de minimis’ import processes for imports from China. The resulting major backlog with the processing of customs rapidly led to the presidential order suspended until ‘sufficient systems are in place to fully and quickly process and apply tariff income’, but meanwhile, dozens of e-commerce flown-flight aircraft have been canceled .
But there was a similar drop in tons of china to Europe from -30% in week 5 and a further -20% in week 6, with Hong Kong to Europe -tunes that are little better (-22%, and a further -17%, wow, respectively). However, the place rates from China to Europe were relatively stable, with -2% dropped in week 5 and a further -4% in week 6, to $ 3.91 per kilo -Byna exactly their level in week 6 last year.
Murring rates from China to the US fell -7%, WOW, in week 5, and a further -3% in week 6, to $ 3.99 per kilo, which takes them -19% lower, yoy, with Hong Kong to US tariffs -14% lower, yoy.
Air freights to the US from other East Asian countries celebrating LYNY also in week 5, WOW, South Korea (-42%), Taiwan (-60%) and Vietnam (-58%), dropped sharply, although volumes rinsed back or or partly in week 6, with a +21% WOW repair in South Korea, +68% in Taiwan, and a +31% partial setback in Vietnam. And the rates of those markets to the US, meanwhile, remain significantly above their levels this time last year.
