Airfreight on the Rise?
After a lackluster first four months of the year, air cargo showed stronger May and June numbers according to a latest report from IATA.org.
Freight demand for the first six months of 2007 grew 2.7%, well below the 4.6% growth recorded for the full-year in 2006. While year-to-date demand growth is weaker than forecast, June year-on-year demand for freight grew 4.9%. This is the second consecutive month of strengthening demand for freight, following the 5.0% growth recorded in May, and could be indicating a return to historical growth levels in the 5-6% range.
Airfreight demand continues to be very strong in the Middle East and Asia Pacific, while the demand in U.S. is sluggish with a (-1.2%) contraction.
Air freight demand growth was led by airlines in the Middle East during the first half of the year at 11.7%. Demand growth in Asia Pacific rose 4.6% during the same period although demand surged to 7.4% in June following a 7.6% increase in May. Demand growth in Europe was sluggish (0.7%) and contracted in North America (-1.2%) and Latin America (-3.8%).
Here is a link to the complete numbers for June.
Let’s hope that the growth continues with peak season right around the corner. From everything that I have heard, we should have a fairly strong peak season out of of China with capacity in Northern China (Beijing/Shanghai) being tighter than areas in South China.
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