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Tonnages and rates rise in September ....WorldACD

Global air cargo tonnages and average rates have risen in September when comparing with August, with full-month tonnages rising almost +3%, and rates at the end of September around +5% higher than at the start of the month, according to the latest figures from WorldACD Market Data.

The figures reflect a slight post-summer seasonal strengthening of the market, which appeared to have stabilized in recent months following a year and a half of persistent decline – or adjustment back towards pre-Covid patterns of supply and demand. Preliminary figures for September as a whole indicate that tonnages were down, year on year (YoY), by -2% – the smallest YoY monthly decline this year.

Comparing the overall global market with this time last year, chargeable weight in weeks 38 and 39 was down -2% compared with the equivalent period last year (YoY), with the most-notable change on an origin region level being a +7% rise ex-Asia Pacific. But, similar to previous reports, there were significant decreases in tonnages ex-North America (-15%) and ex-Europe (-9%). Also, tonnages were down for origin Africa (-4%), while origins Central & South America (+3%) and Middle East & South Asia (+1%) were up.

Overall capacity has increased by +10% compared with last year, as passenger air services continue to return to the market, with capacity ex-Asia Pacific up by a noteworthy +30%. Other significant YoY capacity increases can be observed ex-Middle East & South Asia (+10%), ex-North America (+9%), ex-Europe (+7%) and ex-Africa (+7%), while a drop was recorded ex-Central & South America (-5%).

Worldwide average rates are currently -31% below their levels this time last year, at an average of US$2.37 per kilo in week 39, although they remain significantly above pre-Covid levels (+38% compared to September 2019).

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