Global air cargo rates continued to rise throughout March, thanks to strong demand and rising rates from Asia and Middle East origins, taking average prices to within -7% of their elevated levels this time last year and recovering to their levels during last year’s winter peak season, according to the latest weekly figures and analysis from WorldACD Market Data.
Average rates rose, week on week (WoW), by around +2% in week 13 (25-31 March) to $2.48 per kilo, following consecutive weekly WoW rises of between +2% and +3% last month, on a globalized basis, progressively narrowing the gap between rates this year and the equivalent periods last year. Average rates in January and February were -19% below their equivalent levels in 2023, but throughout March the gap narrowed, from -15% in week 9 to just -7% in week 13, based on the more than 450,000 weekly transactions covered by WorldACD’s data.
