Global average spot rates for air cargo peaked in the first full week of December, hitting $3.30 per kilogram, a 4% rise from the previous week. This trend was largely fuelled by an 8% increase in rates from Asia-Pacific origins, highlighting a strong but relatively stable fourth quarter as the industry approaches the peak shipping season. According to data from WorldACD Market Data, spot rates from Asia-Pacific origins climbed to $4.86 per kilogram during week 49 (2–8 December), marking a 19% year-on-year increase. The rise was mirrored by a 12% surge in rates from African origins, buoyed by a spike in demand for shipments to European markets. European origins also saw a 3% rise, with robust growth on transatlantic routes to North America, where rates reached $3.97 per kilogram, a 4% week-on-week increase.
On a global scale, cargo volumes remained stable during week 49, edging up 1% from the prior week. In North America, volumes rebounded by 14% following the Thanksgiving period, with the United States posting a substantial 15% increase. This rebound contributed to price hikes on routes from China to the US (+10%) and Europe (+12%), where rates rose to $6.83 per kilogram and $5.52 per kilogram, respectively.
From Asia to Europe, the market displayed notable dynamism. Spot prices from China to Europe increased by 12%, while Taiwan-origin rates surged 20% week-on-week, reaching $4.76 per kilogram. More modest but still notable gains were recorded from Japan (+3%), Vietnam (+3%), Thailand (+4%), and Malaysia (+3%). Conversely, rates from Hong Kong to Europe experienced a slight dip (-1%) but remained high at $6.22 per kilogram.
Year-on-year comparisons reveal that global average rates for week 49 were up 21%. The Middle East and South Asia (MESA) origins led the charge with a 62% increase, followed by Asia-Pacific and Europe (both +19%). Particularly striking were the annual rate increases from Southeast Asian markets to Europe: Indonesia (+94%), Thailand (+67%), Malaysia (+50%), Singapore (+42%), and Vietnam (+30%).
WorldACD emphasised that the data underscores the pivotal role of Asian origins, where rising demand for cross-border e-commerce continues to sustain elevated prices. However, annual rate increases have been less pronounced from China (+18%) and Hong Kong (+7%) compared to 2023, as these routes were already at high levels last year.
