Cargo shipments bounced back in June 2016, increasing 2.7 percent year-over-year, following several months of declines, according to industry analyst World ACD.
Global airfreight volumes increased 2.7 percent in June 2016 compared with the same 2015 period, according to the latest figures from industry analyst World ACD.
The firm attributed the uptick in June primarily to strong volumes in the Asia Pacific region, where imports by air were up 7.1 percent and exports up 6.6 percent.
Europe continued to show growth in airfreight imports, up 4.8 percent year-over-year, but the Africa and Central and South America regions saw both incoming and outgoing volumes fall during the month, with African imports falling the most at nearly 11 percent.
The North American market performed on average, while the Middle East & South Asia (MESA) region was “lackluster,” performing below the other areas in the northern hemisphere, said World ACD.
In terms of products shipped, most categories grew in June more or less in line with General Cargo, with the exception of pharmaceuticals, which grew more than 10 percent from the previous year.
Yields, measured in U.S. dollars, remained steady from May 2016 thanks to the growth in volumes and above-average yields.
For the second quarter of 2016, worldwide volumes increased an average of 2.1 percent compared with the same 2015 period.
The air cargo industry got off to a poor start in 2016, registering several months of year-over-year volume declines. The June figures are encouraging, but increases in belly hold capacity on passenger aircraft continue to outpace volume growth, said World ACD.
“Much is being said about the cargo capacity growth as a consequence of growth in passenger aircraft. What are the consequences for air cargo?” the firm said. “We are now in a position to share our first observations regarding the relationship between volumes carried and bellyhold capacity offered. We looked at Q2 YoY changes on the routes between MESA and Europe, and between Europe and North America. For these routes, the growth of cargo capacity on board of passenger aircraft outpaced the percentage increase in cargo carried on these aircraft, in some cases quite considerably.”
Bellyhold capacity grew 6.8 percent from MESA to Europe, but a good part of that capacity growth was taken up by cargo carried (up 4.9 percent). From Europe to MESA, belly capacity and shipments increased 5.3 percent and 2.2 percent, respectively.
“For Europe to North America, however, the picture was more worrisome: a bellyhold capacity growth of 5.5 percent combined with a volume decrease of 1.5 percent,” said World ACD. “The result was slightly better in the other direction, i.e. from North America to Europe, where bellyhold capacity grew by 3.2 percent and cargo carried in the bellyhold dropped by 0.7 percent.”
World ACD: Global airfreight market ticks up in June
