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Shippers aim for longer term deals with upturn in air cargo market
来源：shippingazette 编辑：编辑部 发布：2023/10/11 16:32:10
WITH the air cargo market climbing its way out of the doldrums in September, shippers are turning to longer term deals, reports London's Air Cargo News.
Statistics from Xeneta show that air cargo volumes in September were flat on a year ago and spot rates were down by 34 per cent - the lowest level recorded this year.
Compared with August, volumes increased 6 per cent, spot rates improved by 2 per cent and the dynamic load factor - using both volume and weight - improved by two percentage points to 58 per cent.
While the figures hardly indicate a huge improvement in air cargo's fortunes, market declines appear to have flattened out.
Meanwhile, the increase in rates was largely driven by capacity additions easing, rather than a surge in demand, Xeneta said.
Xeneta chief airfreight officer Niall van de Wouw said that the improved demand figures had resulted in shippers looking for longer term deals.
The number of shippers committing to airfreight contracts of more than six months in the third quarter rose to 34 per cent from 28 per cent in the previous three-month period.
"This is not a peak season, it is a sign that airlines, freight forwarders, and shippers are finding more common ground to enter longer-term agreements," Mr van de Wouw said.
"The general air cargo market is entering a new phase where parties are not expecting the market to go much higher or much lower. It is finding its feet again.
"We see more longer-term contracts being signed and this only happens when people feel more comfortable about the now and the foreseeable future. It is easier to make a commitment now than when the market is on a sharp downward or upward trajectory. There is a firmer floor in place."
Looking at regional performance in September, the rush ahead of China's Golden Week holiday helped support an 11 per cent month-on-month increase from China to Europe to US$3.19 per kg, while China to the US was up 9 per cent to $3.63 per kg. Southeast Asia to Europe and to the US spot rates grew considerably by 22 per cent month over month to $2.29 per kg) and 16 per cent to $3.14 per kg respectively. Vietnam spot rates to Europe and the US rocketed 54 per cent and 32 per cent to $3.00 per kg and $3.70 per kg respectively.
It wasn't all good news from the data provider - spot rates on the transatlantic declined and the performance of advanced economies remained weak.
Mr Van de Wouw added: "The global air cargo market is still muted and has been flat at a global level now for three months in a row. September produced no surprises, with traditional seasonality pushing up demand over what we saw in August, and we would expect a similar trend in October with less capacity flying around.
Statistics from Xeneta show that air cargo volumes in September were flat on a year ago and spot rates were down by 34 per cent - the lowest level recorded this year.
Compared with August, volumes increased 6 per cent, spot rates improved by 2 per cent and the dynamic load factor - using both volume and weight - improved by two percentage points to 58 per cent.
While the figures hardly indicate a huge improvement in air cargo's fortunes, market declines appear to have flattened out.
Meanwhile, the increase in rates was largely driven by capacity additions easing, rather than a surge in demand, Xeneta said.
Xeneta chief airfreight officer Niall van de Wouw said that the improved demand figures had resulted in shippers looking for longer term deals.
The number of shippers committing to airfreight contracts of more than six months in the third quarter rose to 34 per cent from 28 per cent in the previous three-month period.
"This is not a peak season, it is a sign that airlines, freight forwarders, and shippers are finding more common ground to enter longer-term agreements," Mr van de Wouw said.
"The general air cargo market is entering a new phase where parties are not expecting the market to go much higher or much lower. It is finding its feet again.
"We see more longer-term contracts being signed and this only happens when people feel more comfortable about the now and the foreseeable future. It is easier to make a commitment now than when the market is on a sharp downward or upward trajectory. There is a firmer floor in place."
Looking at regional performance in September, the rush ahead of China's Golden Week holiday helped support an 11 per cent month-on-month increase from China to Europe to US$3.19 per kg, while China to the US was up 9 per cent to $3.63 per kg. Southeast Asia to Europe and to the US spot rates grew considerably by 22 per cent month over month to $2.29 per kg) and 16 per cent to $3.14 per kg respectively. Vietnam spot rates to Europe and the US rocketed 54 per cent and 32 per cent to $3.00 per kg and $3.70 per kg respectively.
It wasn't all good news from the data provider - spot rates on the transatlantic declined and the performance of advanced economies remained weak.
Mr Van de Wouw added: "The global air cargo market is still muted and has been flat at a global level now for three months in a row. September produced no surprises, with traditional seasonality pushing up demand over what we saw in August, and we would expect a similar trend in October with less capacity flying around.