Air Cargo

China-Europe Air Cargo Volumes Show Recovery Signs in September

Air cargo shipments from China and Hong Kong to Europe demonstrated improvement in September, marking a turnaround from weaker summer performance. Combined tonnages declined 10% year-on-year, a substantial improvement from July's 14% drop and August's 15% fall. The earlier weakness stemmed from reduced e-commerce volumes following the European Union's €3 charge on packages valued below $150. Mainland China shipments showed particular resilience, falling just 2% compared to August's 5% and July's 9% declines. Hong Kong volumes remained under pressure, down 24% year-on-year. The divergence between China-Europe and China-US lanes widened, with US volumes surging 17% in September. Average rates from China to Europe recovered to $4 per kg, up 9% annually, while US rates climbed to $6.05 per kg, a 30% increase. Global air cargo volumes rebounded strongly in September, rising 9% year-on-year.