Global Air Cargo Volumes Rebound as Freight Rates Ease

Volumes Recover on Strong Demand from North America and MESA

Global air cargo activity rebounded as airlines gradually restored capacity after a weaker week. The earlier slowdown was largely attributed to the overlap of several major holidays, including Pentecost in Europe, Memorial Day in the United States, and Eid al-Adha across the Middle East, South Asia (MESA), and Africa.

According to the latest data from WorldACD Market Data, average global air freight rates declined by 1% week-on-week amid continued easing in oil prices.

After chargeable weight fell by 7% in the previous week, total global air cargo volumes recovered by 3% in Week 23 (June 1–7).

The recovery was primarily driven by two major regions:

●    North America: up 16%

●    MESA (Middle East and South Asia): up 13%

Meanwhile, Europe and Africa recorded growth of 6% and 3%, respectively.

In contrast, Asia-Pacific (APAC) and Central & South America (CSA) both experienced declines of 2%.

The impact of the four-day Eid al-Adha holiday was particularly evident when comparing the most recent two weeks with the preceding two-week period (2Wo2W). Export volumes from MESA and Africa declined by 13% and 12%, respectively.

Notably, although cargo volumes from Asia-Pacific declined across most long-haul trade lanes, traffic to North America still increased by 3%. According to WorldACD, this trend continues to reflect resilient demand for e-commerce shipments and AI-related technology products, particularly from Southeast Asia.

On a year-on-year basis, total chargeable weight remained 6% higher than the same period last year. However, WorldACD noted that Pentecost and Eid al-Adha occurred approximately two weeks later in 2025 than in 2026, meaning direct comparisons should be interpreted with caution.

Air Cargo Capacity Continues to Recover

After declining by 1% in Week 22, global air cargo capacity increased by 1% during the latest reporting week.

MESA and Africa led the recovery, with available capacity rising by 8% and 2%, respectively.

Capacity to and from MESA increased by 11% week-on-week, reversing the 5% decline recorded in Week 22. Doha emerged as the region’s strongest hub, posting the highest level of cargo capacity seen in the past five weeks.

Nevertheless, compared with the period before the outbreak of the Iran conflict, capacity in the MESA region remains approximately 28% lower. Within the region, capacity in the Gulf has declined by 43%, while South Asia has recorded an 11% reduction.

Spot Rates Ease Alongside Lower Fuel Prices

Continued declines in aviation fuel prices pushed average global air freight rates down by 1% week-on-week to USD 3.24 per kilogram.

Source: WorldACD Market Data

By origin region:

●    Africa: down 10%

●    MESA: down 4%

●    Europe: down 1%

●    CSA: down 1%

Meanwhile, freight rates from Asia-Pacific and North America both increased modestly by 1%.

Despite the recent correction, average global air freight rates remain 33% higher than a year ago.

In the Asia-Pacific spot market, rates rose by 1% compared with the previous week, with services to the United States increasing by 3% and services to Europe rising by 1%.

The increase in rates to the U.S. market was primarily driven by:

●    Japan: up 13%

●    Indonesia: up 8%

Meanwhile, freight rates from both China and Vietnam increased by 3%, contrasting sharply with an 11% decline from South Korea.

Market Outlook Remains Influenced by Geopolitical Risks

Although oil prices have eased in recent weeks, renewed tensions in the Middle East have begun to slow the downward trend.

According to industry analysts, upward pressure on energy prices remains a key risk factor and could continue to influence air freight costs in the coming months unless geopolitical conditions in the region improve significantly.

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Source: Phaata.com (According to Air Cargo Week)

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