China to USA market weakens in February
Full-month figures for February suggest a weakening China to the USA air bongdaso con market compared with China to Europe, as shippers adjust to the fast-changing policies and statements of the new Trump administration.
According to bongdaso con latest figures from WorldACD Market Data, combined tonnages from China and Hong Kong to bongdaso con USA in February – corrected for last February’s extra day – were down, year on year (YoY) by -10%, whereas China and Hong Kong to Europe chargeable weight was +4% higher than last February. And those markets diverge on bongdaso con pricing side as well, with China and Hong Kong to bongdaso con USA spot rates of US.80 per kilo in February averaging -9% below their equivalent levels last year, whereas to Europe average spot prices of US.58 per kilo were +17% higher than last February.
bongdaso con different timings of Lunar New Year (LNY), which fell on 29 January this year compared with 10 February last year, and February last year having a leap day, complicate both YoY and month-on-month (MoM) absolute comparisons, to some extent. But comparisons between bongdaso con relative performances of bongdaso con USA and Europe markets remain valid.
For example, compared with January, China and Hong Kong to bongdaso con USA spot rates dropped -11%, whereas to Europe they held up much better, dropping just -2%, MoM, based on bongdaso con more than 2 million monthly transactions covered by WorldACD’s data. And looking specifically at bongdaso con Shanghai market, spot rates from Shanghai to bongdaso con USA in February dropped -10%, MoM, to .91 per kilo, while Shanghai to Europe spot rates saw a +6% MoM increase to .47 per kilo.
Although it is still too early to form any firm conclusions about these differing patterns, the relatively weaker performance of the China to the USA air bongdaso con market in February is consistent with an adjustment by Chinese e-commerce shippers to the suspension of China’s access to US customs-free ‘de minimis’ exemptions in early February, before that was reversed a few days later. Companies that are more involved in the e-commerce business will have been more affected by this.
Global overview
Total worldwide tonnages in February were up, YoY, by +5% (corrected for 29 Feb 2024), led by YoY increases from Asia Pacific (+8%), Central & South America (+8%), Europe (+4%), and North America (+4%) origins. That was offset by a -6% YoY decrease from Middle East & South Asia (MESA) origins, compared with bongdaso con heightened volumes from that region last February during bongdaso con early stages of bongdaso con Red Sea ocean freight capacity crisis. Combining bongdaso con worldwide figures for January and February (corrected), to eliminate bongdaso con complications of bongdaso con timings of LNY, shows a YoY increase of +3% for bongdaso con first two months of 2025.
For week 9 (24 February to 2 March), worldwide total tonnages regained a further +1%, their fourth consecutive week-on-week (WoW) increase, as demand slowly rebuilds following bongdaso con LNY decline at bongdaso con end of January. Worldwide tonnages have rebounded to around their levels in mid-January. Average worldwide rates also edged slightly upwards in week 9 to .32 per kilo, +6% higher than last year. Average global spot rates of .57 per kilo have been broadly stable for bongdaso con last three weeks, and stand around 10% higher, YoY, with spot rates from Asia Pacific origins up +15%, Europe spot prices up +7%, and MESA rates up +6%.
For more details, please refer to bongdaso con attached WorldACD weekly report.
Source: https://www.worldacd.com/trend-reports/weekly/worldacd-weekly-air-bongdaso con-trends-2025-week-9/
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