Recent data from WorldACD reveals a slight decline in airfreight demand from China and Hong Kong to the US last week, even as shipping rates increased.
For the week ending April 6 (week 14), demand from these key markets fell by 1% compared to the previous week, marking the first drop since the beginning of the year. Despite this dip, shipment volumes remained 3% higher than the same period in 2024.
Regionally, airfreight demand from Asia Pacific saw a sharper 7% week-on-week decline. Meanwhile, average spot rates from the region rose by 5% to $3.94 per kilogram, driving an overall 4% increase in pricing.
On a global scale, air cargo demand also softened, with a 7% decline compared to the previous week. WorldACD attributed half of this drop to the Eid holidays at the end of Ramadan, while the rest was linked to ongoing economic uncertainty. Concerns over a trade war—sparked by new US tariffs and the removal of de minimis exemptions on shipments from China and Hong Kong—also played a role.
Year-over-year, global airfreight demand remains up by 6%.
Airfreight rates rose across nearly all regions, except Central and South America. The average global shipping rate increased by 2% from the previous week to $2.52 per kilogram—2.9% higher than a year ago.
However, WorldACD warned that pricing trends could shift in the coming weeks due to escalating trade tensions between the US and China. The US has imposed a 145% tariff on Chinese imports, prompting Beijing to counter with its own 125% tariff.
While Washington has temporarily paused new tariffs on several other countries for 90 days, the latest round of duties—effective April 9—is expected to impact trade flows significantly. The full effects of these measures should become more apparent in next week’s report, according to WorldACD.
Source: aircargonews.com