Global Air Cargo Demand Dips 4.8% in March as Red Sea Disruption Eases
Global air cargo demand experienced a 4.8% year-on-year decline in March, marking a reversal after two months of growth. This downturn is attributed to the market normalizing after an initial surge caused by shippers shifting from ocean to air freight due to the Red Sea crisis. According to data from Xeneta, the global dynamic load factor also fell to 59% for the month. Consequently, the average global air cargo spot rate decreased by 8% year-on-year to $2.29 per kilogram. However, specific corridors, such as the Middle East to Europe route, still saw significantly elevated spot rates.
Official Source: https://www.stattimes.com/air-cargo/air-cargo-demand-falls-48-in-march-amid-middle-east-disruption-1358965
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