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Air Cargo Demand Still Growing After Lunar New Year Albeit At A Slower Rate

Air Cargo Demand Still Growing After Lunar New Year Albeit At A Slower Rate

WorldACD statistics show that the strong demand growth over the first two months of the year continue past the Lunar New Year holiday, although at a slightly lower level.

Figures show that demand is continuing to improve in March, albeit at a lower level as the urgency to move cargo ahead of the Lunar holiday has eased.

The data provider’s figures for the two weeks ending March 10 (week 10) show that demand was up by 4 per cent year on year on a global basis.

“Overall global demand has broadly stabilized following a strong return of Asia Pacific volumes since the Lunar New Year dip in early February,” said WorldACD in its latest market analysis.

Many had wondered whether the double-digit demand improvements registered over the first two months of the year were the result of the Red Sea shipping crisis combined with the usual pre-Lunar New Year rush.

The improvements are in part down to an ongoing increase in sea-air demand, as forwarders and shippers look to avoid elongated shipping times, and a rise in e-commerce demand.

“Air cargo tonnages from Dubai to Europe are continuing to boom,” the analyst said.

The company’s figures show that Dubai-Europe tonnages for the week ending March 10 were at three times the level (205 per cent) recorded this time last year.

Other sea-air hubs also continued to record strong demand. Bangkok-Europe demand was up by more than 30 per cent year on year and Colombo-Europe tonnages were up 20 per cent.

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