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ACF 2020

 

ACF 2020

 

CMA CGM reinforces CITES procedures
The CMA CGM Group is reinforcing its procedures fo...

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Qatar commits to transporting humanitarian aid free of charge
Qatar Airways Cargo is taking action like no other...

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XELLZ plans Rosslare freezone
Dutch logistics company XELLZ has acquired 100.000...

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SCG contracts Castor Marine for 4G connectivity
Shipping Company Groningen (SCG) has contracted of...

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88% "very satisfied" satisfaction rating for Dunkerque
On June 25, the AUTF (*), the French shippers' tra...

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Turkish Cargo increases market share to five percent
According to the data announced for May by the WAC...

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Dunkerque awarded PERS certification
Dunkerque-Port has again been awarded PERS certifi...

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AA to bring all LHR flights back online
From tomorrow American Airlines will begin provisi...

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June outperforms May air cargo volumes
As PPE volumes faded, global air cargo volumes in ...

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CMA CGM reinforces CITES procedures
Qatar commits to transporting humanitarian aid free of...
XELLZ plans Rosslare freezone
SCG contracts Castor Marine for 4G connectivity
88% "very satisfied" satisfaction rating for Dunkerque
Turkish Cargo increases market share to five percent...
Dunkerque awarded PERS certification
AA to bring all LHR flights back online...
June outperforms May air cargo volumes

 

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AMSTERDAM: July 02, 2018. Air cargo market analyst WorldACD wonders whether ‘the party is over’ as worldwide air cargo yield dropped three percent in May year-on-year (YoY) to US$1.88. However, it notes, the yield is still 14 percent higher than in May 2017 and measured in €, it increased one percent month-over-month, and seven percent YoY:

“Lots of people have taken up the pen lately, writing about the end of the boom, the end of the party. Are they all doomsday prophets, naysayers and other assorted pessimists? Maybe, but sometimes people turn out to be plain right in their predictions, making them realists.

“Put differently, do we experience just a small dip in growth, or do we witness an 'inevitable' slide into a more modest performance of a world economy which looked so robust only a few months ago?

“The development in air cargo in the month of May 2018 confirms a downward growth trend noticed since the start of this year. But growth it is nonetheless, although less than in 2017. Year-over-year, air cargo volume increased by 2.6 percent worldwide, yield measured in € by 7.1 percent and measured in US$ by 14.4 percent. For January through May, the growth was 4.3 percent.

“Originating traffic from Chile (+58 percent), Japan (+18 percent), Canada (+17 percent), and the USA (+5.8 percent) easily outperformed many other countries. But the growth from the Americas came at a price: YoY US$ yield improvements in the Americas were well below 10 percent, much lower than elsewhere in the world.

“Traffic from India, Russia and Western Europe all showed negative YoY growth in May. As in previous months, long- haul traffic increased more than short-haul: 3.0 percent growth in Direct Ton Kilometers (DTK) versus 2.6 percent in weight, while specific cargo categories again outpaced general cargo (5.5 percent versus 1.5 percent growth).

“Yet, the fear of growing protectionism is real, and that fear may well play a role in a shift away from consumption. Will the whole world suffer? To what extent will some regions feel the heat of the trade war (mongering) more than others? Impossible to tell, so let us stick to what we know and see how a number of large economies performed lately.

“For a number of countries, we looked at GDP-developments, as reported by The Economist in its latest issue, relative to air cargo growth. Until 2009, the conventional wisdom was that air cargo roughly grew at twice the rate of GDP growth. Since the crisis this ratio first dropped from 2:1 to 1:1 and then climbed again gradually.

“Where does it stand today?

“It is no longer possible to use a general ratio between GDP-growth and air cargo growth.

“Neither is it possible to assume that growth in any geographical area will automatically benefit the carriers based in that area. Actually, the contrary appeared to be the case when reviewing growth over the past two years!

“The African carrier group was the only one improving its (small) market share in all regions. So did carriers from Asia Pacific, except in their home area.

“Carriers from the Americas increased their market share in three regions, but lost share in both North and South America. The group of Middle Eastern carriers lost share in three regions, including their home area, and gained in Europe and Latin America.

"Lastly, European carriers gained share everywhere, except in their home market Europe.

“In other words the growth in traffic from all areas except Africa benefitted the group of 'non-home carriers' more than the group of 'home carriers'.”

WorldACD Market Data
www.worldacd.com/yields

 

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