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2024 Air Cargo Outlook: Cautious Optimism Amidst Uncertainties

Air cargo industry leaders are cautiously anticipating air cargo demand in 2024 to remain flat or experience modest growth, as discussed at the Tiaca Executive Summit. WorldACD's Rogier Blocq is cautiously optimistic, noting historical first and second-quarter increases. WorldACD's projections show a 1% demand increase in the final quarter of the year, possibly leading to 2% and 3% growth in the first and second quarters of 2024. However, market uncertainties make predicting 2024 demand challenging. Geopolitical risks and factors like instability and higher fuel prices could impact passenger services and, in turn, benefit freighter operators. Despite uncertainties, some developments offer hope for small growth in 2024.

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CCFI Summary week 19

Ocean freight rates increased via the West Coast of North America (+1.5% week-on-week), Europe (+4.0%), and Korea (+3.3%). Freight rates via the East Coast of North America (-0.9%) decreased.

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