DHL Global Forwarding (DHL GF) paints a broadly stable picture for air cargo demand in its November ‘Air Freight State of the Industry‘ report.
“Air cargo demand remain(s) steady, with a slight increase month on month (MoM), bongdaso v remains flat year on year (YoY),” surmised the report.
While overall demand was stable, the situation varied from region to region, with volumes out of Europe bongdaso v North America pulling down global figures.
“Most regions show a substantial rise in tonnage compared to last year: +9% ex-Africa, +8% ex-Asia Pacific bongdaso v ex-Middle East & South Asia, bongdaso v +6% ex-Central & South America.”
The report added there were “significant decreases in tonnages observed ex-North America (-12%) bongdaso v ex-Europe (-9%).
Strong demand out of Asia Pacific is expected to continue in December resulting in supply chain congestion in China bongdaso v Hong Kong.
“Continued surge in demand ex-Asia Pacific expected to persist until mid-December, leading to backlogs in CN bongdaso v in HK,” found DHL GF.
Capacity remains sufficient in most regions with no significant backlogs, except from Israel, where global airlines have pulled capacity due to the current conflict, bongdaso v Hong Kong bongdaso v China, where capacity recovery is behind other parts of the world due to previous pandemic restrictions.
“Air cargo capacity [is] 11% higher than November 2022, boosted by a strong growth of +19% in belly capacity versus November 2022,” said DHL GF.
However, as with heightened demand out of Asia, looking ahead, the e-commerce sector is set to reduce available capacity out of Asia.
On rates, DHL GF said: “Global average rates trends to increase with MoM around +3%; though we observe -27% decline compared to last year.”
DHL GF also expects jet fuel prices to rise in early 2024, in line with “ongoing supply disruption risks in the months ahead”.
Source: https://www.aircargonews.net/business/asia-holds-demand-bongdaso v-capacity-cards/
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