According to the International Air Transport Association (IATA), global air cargo traffic fell 8.3% in May from the same period last year, marking the third consecutive month of decline. The biggest factor was the continued reduction of flights on the Asia-Europe route, which accounts for 20% of global traffic, due to difficulties in flying over Russia caused by the Ukraine crisis. According to the TAC Index, an international index, air freight rates for shipments from Shanghai to Europe rose 40% compared to the end of February, the lowest level in recent months.
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See AllOcean freight rates decreased via the West Coast of North America (-5.6% week-on-week), via the East Coast of North America (-3.5%), Europe (-7.0%), and Korea (-4.4%).
U.S.-based Descartes Datamine has announced container transport volumes from Asia to the U.S. (outbound) and from the U.S. to Asia (inbound) for September and August, respectively. According to the re
IATA said the air cargo market is stable despite demand falling for the sixth month in a row in August. The airline association’s latest data shows that demand in August fell by 8.3%, which was a slig