On the demand side, worldwide chargeable weight flown in week 45 was stable, WoW, with small increases from Europe, Africa and CSA origins wiped out by decreases from North America and MESA (both -4%, WoW). Compared with last year, worldwide tonnages were up, YoY, by just +2% in week 45. Comparing weeks 44 and 45 this year with the previous two weeks (a 2Wo2W comparison) reveals a +3% full-market increase in rates, 2Wo2W, driven by a +5% increase from Europe origins and a +4% increase from Asia-Pacific, taking average worldwide prices +12% higher, YoY. One market experiencing a particularly strong rise in rates is Europe to North America, where rates rose +16%, on a 2Wo2W basis, despite a -9% drop in tonnages flown on that lane. Meanwhile, worldwide flown chargeable weight in weeks 44 and 45 was down -4%, compared with the preceding two weeks, including declines of -8% from MESA origins and -5% from Europe and Africa origins.

Source: The North Africa Journal November 15, 2024 13:44 UTC