RECENT data indicates a cooling of the air cargo market following a brisk start to the year, driven by factors such as the Red Sea crisis and the pre-Lunar New Year rush, reports London's Air Cargo News.
According to figures provided by analyst WorldACD, in week six, there was a two per cent decline in tonnages out of China compared to the previous week, with imports experiencing a more significant drop of 15 per cent.
This deceleration comes after a notable surge in cargo volumes out of China as shippers hurried to dispatch goods before the Lunar New Year holiday.
WorldACD anticipates further declines in both inbound and outbound tonnages for the current week.
Examining the past two weeks, there are also indications of a slowdown, with global demand decreasing three per cent compared to the preceding two weeks.
"The three per cent worldwide tonnage decline was largely driven by a seven per cent drop in tonnages from Asia Pacific origins - which, in turn, mainly generated a 17 per cent fall in intra-Asia Pacific traffic, with the intra-Asia Pacific market apparently responding more quickly than the main long-haul markets to the arrival of the LNY holiday period," said WorldACD.
Source: shippingazette