Air Cargo Rates Remain High Despite Seasonal Slowdown In Asia Pacific, Middle East & S. Asia Regions.

Global air cargo spot rates rose 22% year-on-year to $2.76 per kilo in mid-January 2025, despite the typical seasonal slowdown. High rates from Asia Pacific and Middle East & South Asia regions drove the increase. However, global rates declined 3% compared to the prior week.

Key highlights:

• Asia Pacific rates dropped 5% week-on-week but were 27% higher than January 2023 levels.
• Asia Pacific to USA demand and rates stayed strong at the end of 2024, averaging $6.41 per kilo. Rates dropped to $5.39 in week two of 2025 but remained 37% higher year-on-year.
• Tonnages on Asia Pacific to USA routes fell 24% in early January but rebounded 14% in the second week.
• Asia Pacific to Europe tonnages dropped 40% in the first week but recovered 26% in the second week.
• Asia Pacific, Middle East & S. Asia region rates dipped in early January but remained 36% above the previous year.