Tonnages drop due to Eid and growing global uncertainty
bongdaso mobile slowdown in global tonnage that began in bongdaso mobile latter half of March accelerated in week 14 (March 31 – April 6), according to bongdaso mobile latest weekly figures from WorldACD Market Data. Following a -1% decline bongdaso mobile previous week, worldwide air cargo tonnages fell by -7%, week on week (WoW). About half of this was due to a seasonal drop in bookings during bongdaso mobile Eid holidays at bongdaso mobile end of Ramadan, while bongdaso mobile other half reflects worldwide uncertainty over a trade war triggered by bongdaso mobile latest wave of US tariffs and bongdaso mobile removal of US de minimis exemptions for shipments from China and Hong Kong. Despite bongdaso mobile weakening in demand, volumes are still at a +6% higher level than bongdaso mobile same week last year.
Amidst this overall downturn in tonnages, worldwide average rates still hold firm and are even continuing their upward trend seen since bongdaso mobile beginning of March, increasing by +2%, WoW, and by +3% based on bongdaso mobile comparison of bongdaso mobile last two weeks with bongdaso mobile previous two weeks (2Wo2W). Compared with bongdaso mobile same week last year (YoY), rates are +3% higher, in line with bongdaso mobile trend of bongdaso mobile last four weeks, based on bongdaso mobile more than 500,000 weekly transactions covered by WorldACD’s data.
bongdaso mobile latest weekly figures by origin region show demand falling across bongdaso mobile board WoW, in week 14, most notably with double-digit percentage decreases ex-Middle East & South Asia (MESA, -24%) and ex-Africa (-21%), but also significantly ex-Asia Pacific (-7%), ex-Central & South America (CSA, -4%), and to a lesser extent ex-Europe (-3%) and ex-North America (-2%). Worldwide spot rates increased by +1%, WoW, to US.73 per kilo, bongdaso mobile highest level seen since bongdaso mobile beginning of bongdaso mobile year, while worldwide average overall rates, based on a mix of spot and contract rates, edged up +2% to .52 per kilo, up +3% YoY.
Seasonal dip in tonnages related to Eid-al-Fitr
bongdaso mobile holiday related to bongdaso mobile Eid-al-Fitr festival at bongdaso mobile end of Ramadan led to some steep WoW falls in tonnages in week 14 ex-Pakistan (-50%), Egypt (-45%), Bangladesh (-46%), Indonesia (-43%), bongdaso mobile UAE (-32%), Malaysia (-27%) and Turkey (-19%) to worldwide destinations. A similar pattern was observed last year, when bongdaso mobile holiday occurred in week 15 (April 8-14). Spot rates from MESA origins to Europe have decreased slightly compared to bongdaso mobile previous week, overall by -3% to .43, and are now -28% below last year’s elevated levels, when disruptions to air cargo and sea freight capacity related to bongdaso mobile unrest in bongdaso mobile region were driving bongdaso mobile rates to historic heights.
Demand ex-Asia Pacific to bongdaso mobile US softens while rates continue to rise
While demand out of bongdaso mobile region has remained fairly robust during bongdaso mobile first quarter of 2025, as highlighted in last week’s report (+3%, YoY), we might see a different trend going forward as global uncertainties seem to start impacting international trade flows. Most ominous there are bongdaso mobile escalating tariffs between bongdaso mobile US and China, but frequent changes in bongdaso mobile US stance on tariffs elsewhere have prompted companies to postpone decisions while their inventory levels are high from front-loading until there is some clarity to plan their next moves.
bongdaso mobile Lunar New Year holiday aside, week 14 shows a week-on-week drop in tonnages (-1%) ex-China and Hong Kong to bongdaso mobile US for bongdaso mobile first time since bongdaso mobile beginning of bongdaso mobile year, although volumes are still +3% higher than bongdaso mobile same week last year. Flows from China and Hong Kong to Los Angeles show a more pronounced drop of -5%, WoW, now at par with bongdaso mobile volumes 12 months ago. Other countries in bongdaso mobile Asia Pacific region also saw a significant decline, especially ex-Japan and ex-Taiwan (both -7%, WoW).
Despite a weakening demand out of all origin regions, week on week, bongdaso mobile average rate for each origin region has increased except for a -2% decline out of CSA. Pricing ex-Asia Pacific jumped +4%, WoW, with bongdaso mobile average spot rate out of bongdaso mobile region going up +5%, to .94. As bongdaso mobile new US tariffs that have not been put on hold for 90 days came into effect on Wednesday, 9 April, bongdaso mobile impact is expected to be more clearly visible on certain trade flows in next week’s report.
Source:https://www.worldacd.com/trend-reports/weekly/worldacd-weekly-air-cargo-trends-2025-week-14/
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