Middle East & South Asia tonnages partially rebound; increase from India

 

Air cargo tonnages from Middle East & South Asia (MESA) origins have partially rebounded in the third week of June after falling sharply in the previous two weeks due to the effects of Eid Al-Adha holidays and the conflict between Israel and Iran.

According to the latest weekly figures and analysis from WorldACD Market Data, tonnages flown from MESA origins bounced back with a +10% week-on-week (WoW) increase in week 25 (16 to 22 June), after falling by around -15% in the first two weeks of the month. Declines in week 23, especially intra-MESA traffic (-26%) and MESA to Africa flows (-16%), had continued in week 24, with Levant countries (-17%) and South Asia (-12%) impacted particularly strongly – including WoW declines in traffic from Bangladesh (-48%) and Pakistan (-30%). Those declines were partially reversed in week 25 with, respectively, a +14% rebound from the Levant, +32% from Pakistan origins and a +18% WoW increase in flown chargeable weight from Bangladesh.

MESA traffic to Europe recorded a +17% WoW increase in week 25, with intra-MESA traffic regaining +12%, and volumes to Asia Pacific rising +11%, WoW, based on the more than 500,000 weekly transactions covered by WorldACD’s data. The region’s biggest origin market, India, recorded a +7% WoW increase after falls the previous week, and there were also significant WoW increases in traffic from the UAE (+10%), Israel (+12%) and Saudi Arabia (+40%).

Worldwide tonnages and rates edge back up

On a global level, worldwide tonnages recorded a +2% WoW increase in week 25 – taking them +5% higher, year on year (YoY) – thanks to WoW increases from MESA origins (+10%), Europe (+5%), Africa (+4%) and Asia Pacific (+1%).

Average global rates rose by around +1% in week 25 to US$2.43 per kilo, based on a full-market mix of spot and contract rates, taking them slightly (-1%) below their level in week 25 last year. Spot rates were also relatively stable in week 25 at an average of $2.57 per kilo globally, with spot prices from MESA origins also seeing little WoW change (-1%) despite that market’s volume fluctuations, although spot rates from that region are well (-26%) below their inflated levels this time last year.

Flight operations returning to normal

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