Air cargo spot rates from China to US rebound
Tonnages from Asia Pacific to US increased overall by 3% in week 12, their sixth successive WoW increase since LNY.
Spot prices from Asia Pacific to the USA rose five percent WoW to $5.16 per kilo with China to U.S. prices recording a second consecutive week of double-digit percentage increases (+12 percent WoW) to $4.53 per kilo – their second-highest level this year.
"However, spot rates from Hong Kong to the USA dropped by nine percent in week 12 but there were substantial increases from Taiwan (+16 percent), Malaysia (+13 percent), Vietnam (+10 percent), and Japan (up seven percent)," according to the latest update from WorldACD Market Data.
Tonnages from Asia Pacific markets to the U.S. increased overall by three percent in week 12, their sixth successive WoW increase since LNY, driven by increases from South Korea (+13 percent), Vietnam (up six percent), Hong Kong (up five percent) and China (up two percent), the update added.
Asia Pacific to Europe tonnages also recorded their sixth successive WoW increase since LNY but at +two percent it was also the smallest of the WoW rises. Spot prices from Asia Pacific to Europe also gained two percent, led by six percent WoW increases from China, South Korea and Taiwan.
Global rates up 4%
Average worldwide air cargo rates gained four percent in the third full week of March, taking them back to around their levels in mid-January and last summer. "Average worldwide spot rates gained a further five percent to reach $2.69 per kilo in week 12 (March 17-23), with contract rates rising three percent to $2.40 per kilo, taking the full-market average mix of spot and contract rates to $2.45 per kilo."
The increases come despite a slight WoW drop in worldwide flown chargeable weight, which remains three percent higher YoY. Only Asia Pacific and Africa recorded WoW tonnage increases, taking chargeable weight from Asia Pacific origins +10 percent higher YoY, the update added.
