Figures from Accenture’s Seabury Consulting show that air cargo capacity in the last two weeks of November was 5% lower than the same period in 2019 and up by 2% against the start of the month.

This compares to capacity being 9% down year on year six months ago and down by around 20% 12 months ago.

Looking deeper into the figures, airline freighter capacity at the end of November was up by 17% compared with two years ago, widebody passenger belly capacity was down by 36% and integrator freighter capacity was up by 31%.

Despite capacity slowly edging back to 2019 levels, rates remain higher than two years ago as demand stays strong – although there was a weakening in November – and congestion on the ground and ULD shortages have created backlogs.

WorldACD figures show that global rates including charges in the week to December 5 reached $4.57 per kg compared with $4.26 per kg.

The rate increases were led by the transpacific trade; the Baltic Exchange Airfreight Index (BAI) shows that prices from Hong Kong to North America last week reached a record $14.30 per kg compared with $12.41 per kg one week earlier.

There was a slight softening of BAI prices from Hong Kong to Europe as they last week slipped to $8.18 per kg against $8.46 per kg two weeks ago, although this remains high compared with historical levels.

Frankfurt to North America was last week down to $5.10 per kg compared with $5.38 per kg two weeks ago.

Source: www.aircargo.com

Image: www.pexels.com

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