Air cargo tonnages from China and Hong Kong to Europe have fallen for the sixth consecutive week, largely due to higher costs and complexities resulting from new European Union (EU) import rules since 1 July, depressing global growth and contributing to a drop in worldwide rates.
According to the latest figures from WorldACD Market Data, chargeable weight from mainland China and Hong Kong to Europe fell, week on week (WoW), by a further -5% and -3%, respectively, in week 31 (27 July to 2 August), with year-on-year (YoY) declines of -7% from China and -24% from Hong Kong. For July as a whole, tonnages from Hong Kong to Europe were down -19% compared with their level in June, and -24% below the volumes recorded in July last year.
For more details, please refer to the WorldACD weekly report
