Worldwide air cargo spot rates have continued to surge going into the second half of October, despite a dip in global tonnages, as pressure on capacity builds in the traditionally busy fourth-quarter period amid ongoing constraints and elevated fuel surcharges, according to WorldACD Market Data that covers each of the last 5 weeks up to Sunday (October 25).
The increase followed a 4% week-on-week rise in the previous week and pushed global spot rates 38% higher than a year earlier. Full-market rates, which include both spot and contract prices, climbed 3% week on week to $3.33 per kg, up 31% year on year.
Spot rate increases were led by Europe, where prices rose 7% week on week, followed by Asia Pacific with a 6% gain and Central and South America with a 5% increase.
Global air cargo volumes, however, declined 2% week on week in week 43, although they remained 2% higher than the same period last year. Volumes from the Middle East and South Asia fell 6%, mainly due to national holidays in India and Sri Lanka.
Air cargo capacity also edged down 1% week on week, while remaining 1% above year-earlier levels, supported largely by an increase in freighter services.
Worldwide air cargo spot rates have continued to surge going into the second half of October, despite a dip in global tonnages, as pressure on capacity builds in the traditionally busy fourth-quarter period amid ongoing constraints and elevated fuel surcharges.
It covers each of the last 5 weeks up to Sunday October 25, 2026.
According to the latest weekly figures from WorldACD Market Data, global spot prices in week 43 (19 to 25 October) rose by an average of +5%, week on week (WoW), a similar pattern seen in week 43 last year – driven by +7% from Europe, +6% WoW spot rate rises from Asia Pacific and +5% from Central & South America (CSA).
The increases follow a +4% WoW rise in global spot rates in week 42 and take average worldwide spot rates to US$3.80 per kilo, which is +38% higher, year on year (YoY). And worldwide full-market rates, a mix of spot prices and contract rates, rose +3%, WoW, to $3.33 per kilo, up +31% YoY.
Worldwide tonnages, meanwhile, dropped by -2%, WoW, with small declines of -1% or -2% from most of the major world regions with the exception of the Middle East & South Asia (MESA), which recorded a -6% WoW drop in volumes, due chiefly to declines from India and Sri Lanka linked to national holidays. Compared with last year, volumes in week 43 were up by +2%.
Global air cargo capacity dipped slightly (-1%, WoW) in week 43, including a -1% WoW drop from Asia Pacific origins that was largely due to a typhoon that disrupted flights in Taiwan, although worldwide capacity was slightly (+1%) up compared with the equivalent week last year, mainly thanks to increases in freighter services.
According to WorldACD Market Data, the capacity remains constrained by the ongoing tensions in the Middle East, with Riyadh almost completely closed to international flights in week 43.
Capacity from MESA in week 43 was down by -13% compared with its level in late February (week 7) just prior to the start of the US-Israel war against Iran, with capacity from the Arabian Gulf down by -19% compared with week 7.
Examining demand patterns more closely from the key Asia Pacific region highlights the big difference in the performance of European and US markets, especially since the European Union (EU) eliminated its ‘de minimis’ exemptions on lower-value items worth less than €150 from 1 July. Chargeable weight from Asia Pacific to the EU in week 43 was down by -16%, YoY, whereas volumes from Asia Pacific to the US were up by +9%, YoY, stated the report.
With strong demand from many Asia Pacific and South Asia markets, continuing instability in the Arabian Gulf, and with Diwali (the Indian Festival of lights), Thanksgiving, Black Friday and Christmas coming up, air cargo stakeholders face a busy but somewhat uncertain peak season period, but with the current sustained high rates likely to increase further in the coming weeks, it added.-TradeArabia News Service
