China’s air import tonnages dropped sharply in the final few days leading up to Lunar New Year (LNY) on 10 February, along with intra-Asia Pacific traffic, contributing to a -12% fall in overall global tonnages, week on week, according to the latest figures from WorldACD Market Data.
Weekly analysis
Analysis of week 6 (5 to 11 February) indicates that China’s inbound air cargo tonnages slumped by -15%, week on week (WoW), in the seven days to 11 February, while the country’s outbound tonnages held up better with a decline of just -2% as the LNY holiday week approached. That follows a surge in tonnages and rates ex-China in the previous two weeks, as shippers rushed to get goods shipped before the LNY holiday period. Both inbound and outbound tonnages are expected to fall further this week.
