Air cargo tonnages from Middle East & South Asia (MESA) origins have partially rebounded in the third week of June after falling sharply in the previous two weeks due to the effects of Eid Al-Adha holidays and the conflict between Israel and Iran.
According to the latest weekly figures and analysis from WorldACD Market Data, tonnages flown from MESA origins bounced back with a +10% week-on-week (WoW) increase in week 25 (16 to 22 June), after falling by around -15% in the first two weeks of the month. Declines in week 23, especially intra-MESA traffic (-26%) and MESA to Africa flows (-16%), had continued in week 24, with Levant countries (-17%) and South Asia (-12%) impacted particularly strongly – including WoW declines in traffic from Bangladesh (-48%) and Pakistan (-30%). Those declines were partially reversed in week 25 with, respectively, a +14% rebound from the Levant, +32% from Pakistan origins and a +18% WoW increase in flown chargeable weight from Bangladesh.
MESA traffic to Europe recorded a +17% WoW increase in week 25, with intra-MESA traffic regaining +12%, and volumes to Asia Pacific rising +11%, WoW, based on the more than 500,000 weekly transactions covered by WorldACD’s data. The region’s biggest origin market, India, recorded a +7% WoW increase after falls the previous week, and there were also significant WoW increases in traffic from the UAE (+10%), Israel (+12%) and Saudi Arabia (+40%).
Worldwide tonnages and rates edge back up
On a global level, worldwide tonnages recorded a +2% WoW increase in week 25 – taking them +5% higher, year on year (YoY) – thanks to WoW increases from MESA origins (+10%), Europe (+5%), Africa (+4%) and Asia Pacific (+1%).
Average global rates rose by around +1% in week 25 to US$2.43 per kilo, based on a full-market mix of spot and contract rates, taking them slightly (-1%) below their level in week 25 last year. Spot rates were also relatively stable in week 25 at an average of $2.57 per kilo globally, with spot prices from MESA origins also seeing little WoW change (-1%) despite that market’s volume fluctuations, although spot rates from that region are well (-26%) below their inflated levels this time last year.
Flight operations returning to normal
Flight operations across the Middle East that have been affected by airspace closures have partially resumed this week following the Israel-Iran ceasefire, and Gulf states including Qatar, UAE, Bahrain, and Kuwait have reopened their airspace, allowing flights through key hubs like Doha and Dubai. But many international carriers remain on reduced operations to and from the region, with normality not expected to return until next month – depending on the ceasefire holding and full airspace reopening. These developments are likely to be reflected in the figures from weeks 26 and 27, said WorldACD in its analysis.