WORLDACD Market Data reports that global air cargo tonnages, which experienced a typical slowdown in the second half of December and the first week of January, have rebounded in the second week of 2024, reports Mumbai Stat Trade Times.
According to preliminary figures for week 2 (January 8-14), there was a significant 24 per cent increase in global air cargo tonnages compared to the previous week.
The data, covering over 400,000 weekly transactions, indicates double-digit percentage rises in demand to Europe from Asia Pacific and from the Middle East & South Asia.
This surge may be attributed to a modal shift to air transport due to disruptions in shipping in the Red Sea.
Despite the uptick in tonnages, average worldwide rates slightly declined in week 2, following a similar trend observed in the first week of 2024.
Source: shippingazette