News / 'Green shoots' spotted as air cargo market bottoms-out

There has been little change this summer in the trends that have dominated the air cargo market for some time: weak demand and overcapacity, leading to a steady decline in rates.

The Baltic Air Index’s (BAI) July readings for Shanghai to Europe and to North America showed a 59% and 46% year-on-year drop, respectively, while for Hong Kong to Europe and to North America, rates fell 43% and 45%, respectively.

Second-quarter trading statements from most forwarders showed double-digit volume declines and yields ...