Global Air Cargo Chargeable Weight Rose in October

Preliminary full-month data showed global air cargo chargeable weight up 6% year over year in October. Tonnage also increased from September, with all major origin regions reporting month-over-month gains.

Key details

• Year-over-year tonnage growth by origin: Africa and MESA, 10%; Asia Pacific, 7%; North America, 5%; Europe, 4%; CSA, unchanged.
• Global tonnage rose 5% month over month.
• Worldwide full-market cargo rates increased 5% month over month and 29% year over year. Spot rates rose 6% month over month to US$3.67 per kilogram.
• China and Hong Kong air cargo volumes to Europe fell 17% combined year over year; volumes from those origins to the United States rose 8% combined.
• In week 44, a 3% rise in freighter capacity offset a 3% decline in passenger belly capacity, leaving worldwide capacity broadly unchanged week over week.

Air cargo tonnage from Africa and MESA rose 10% year over year in October.

Why it matters

The regional figures show that October’s growth reached multiple origin markets, while Europe recorded a smaller increase than Africa and MESA or Asia Pacific. Cargo rates also rose alongside tonnage, and the capacity mix shifted between freighters and passenger aircraft belly holds.