Drop in China-Europe volumes but global tonnages up 6 percent in October

Global air cargo tonnages in October grew by +6 percent compared with their level this time last year, according to the latest figures from WorldACD Market Data, as growth in most parts of the world offset steep declines in China-to-Europe volumes and continuing challenges due to the conflict in the Arabian Gulf.

Preliminary full-month figures for October, based on the more than 2 million monthly transactions covered by WorldACD’s data, indicate that the +6 percent year-on-year (YoY) rise in October was led by YoY chargeable weight increases of +10 percent from both Africa and Middle East & South Asia (MESA) origins, a +7 percent YoY rise from Asia Pacific, +5 percent growth from North America origins, and a +4 percent YoY increase from Europe, with Central & South Asia (CSA) volumes stable compared with the equivalent month last year

Tonnages in October also increased by +5 percent compared with September, thanks to increases from all the world’s main air cargo origin regions, including a +9 percent month-on-month (MoM) tonnage increase from Africa, +6 percent rises from North America, Europe, and CSA, a +4 percent MoM rise from Asia Pacific origins and +3 percent from MESA.

The growth from MESA origins, despite ongoing challenges to Arabian Gulf capacity and volumes due to the US-Iran conflict, mainly reflects continuing strong demand for air exports from India, which in October was also boosted by the later timing of India’s Diwali holiday period: taking place this year around 6-11 November compared with 18-23 October last year.

This story was originally published by Air Cargo Week. Read the full story at Air Cargo Week →