Soaring Air Cargo Rates from Bangladesh and Japan Boost Market in Early September

Air cargo spot rates from Bangladesh and Japan, along with a sharp rise in tonnages from Dubai, contributed to strong market performance in early September, according to the latest figures from WorldACD Market Data.

For the week of 9-15 September (Week 37), worldwide air cargo tonnages rose by 4% week on week (WoW), fueled by increases from Asia Pacific (+5%), Central & South America (+6%), and North America (+10%), following Labor Day.

Rates Continue to Climb, Led by Asia Pacific and MESA
Average worldwide air cargo rates edged up to $2.58 per kilo, with a 1% increase from Asia Pacific partially offset by a 2% drop from Middle East & South Asia (MESA). Despite the dip in MESA, year-on-year (YoY) rates from both regions have surged, with Asia Pacific up 24% and MESA 53% higher. Global rates are now 14% higher YoY and more than 50% above pre-pandemic levels in September 2019.

Bangladesh to USA Spot Rates Soar
Notably, spot rates from Bangladesh to the USA have skyrocketed, reaching $7.49 per kilo in Week 37—up 219% YoY. Rates from Bangladesh to Europe have also remained high, exceeding $5 per kilo in recent weeks, driven by ongoing political unrest and logistics disruptions in the region.

Dubai Tonnages to USA Surge by 50%
Dubai has seen a massive surge in air cargo tonnages to the USA, increasing by 50% in the last month and up 275% compared to last year. This is one of the most significant recent developments in the MESA region.

Spot Rates from Japan Reach Record Levels
Japan has also experienced a significant rise in air cargo spot rates to the USA, hitting $8.33 per kilo in Week 37, the highest level this year. This marks a 50% increase from mid-June, as recent typhoons have disrupted air services in the region.

Outlook for Q4
The increases in tonnages and rates are an early indicator of a strong fourth-quarter peak season, with ongoing high demand from MESA and Asia Pacific likely to sustain market momentum.