Freight Market Update – October
Check out this month’s air cargo trends and insights presented by Judah Levine.
Webinar
This month, Judah Levine, WebCargo’s Head of Research, brings you the October Air Cargo Outlook, diving into the latest data and projections for the coming months.
Here’s what’s covered in this month’s update:
- Record-breaking growth: Air cargo volumes surged over 11% year-on-year in August, marking nine straight months of double-digit expansion.
- Asia leads the charge: Volumes from Asia to North America are up 9%, and Asia-Europe shipments jumped 18%. The ongoing boom in B2C e-commerce from China continues to disrupt traditional logistics channels.
- Middle East sea-air shift: A remarkable 29% rise in Middle East-Europe volumes highlights how ocean logistics disruptions in the Red Sea are adding pressure to air cargo capacity.
- Rates on the rise: Despite additional capacity, air cargo rates from China to North America spiked to levels not seen since last year’s peak season – largely driven by the short-lived U.S. East Coast port strike and the surge of e-commerce shipments.
- E-commerce disruption ahead? How the U.S. government’s plan to revise the de minimis exemption could impact rates and capacity, reshaping the market heading into 2025.
