July saw air cargo rates continue their downward trajectory and a forecast of a tough winter season for air cargo, according to Xeneta-owned CLIVE Data Services. Niall van de Wouw, Chief Airfreight Officer, Xeneta, said, “July provides no surprises in terms of unexpected performance levels, but what is of concern for carriers and forwarders is the month-on-month decline in average rates.” Global air cargo volumes reduced by 2 per cent month over month in July, while the general cargo global airfreight spot rates fell by 40 per cent or more. Capacity rose by 7 per cent YOY last month as airlines ramped up their summer schedules.
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