Airfreight rate relief for shippers, or are things going to 'turn nasty'?
With air freight rates settling below peak-Covid levels, and the Baltic Air Freight Index slipping ...
Both IATA and WorldACD have released their August data. As WorldACD noted: “Our story is in danger of becoming monotonous: with a year-over-year increase of 0.6%, August was the third month in a row showing minimal growth in worldwide air cargo volumes.” It added that there was a slight shift towards longer haul markets, and published a focus on India. IATA was a little more upbeat. It noted that growth measured in freight tonne kilometres was up 2.3% year-on-year, but the pace of growth was unchanged from July. Yields, however, “appear to be holding up”. You can see IATA’s full data here and WorldACD’s here.
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