Air cargo tumbles dramatically in August

posted on 2nd October 2019 by Eddie Saunders
Air cargo tumbles dramatically in August

The month of August has been a troubled one as air cargo has fallen dramatically, reports WorldACD

On a year-to-date basis between January and August, air cargo was almost down almost 5% and yields by 7.1% for general cargo.

Total chargeable weight was down 7.1% year-on-year in August and yields by 9.4% in US dollars, pushing down revenue by almost 16%.

General cargo was down 10.3% though special cargo was up 0.7% year-on-year. High-tech and vulnerable goods increased 4.4% and pharma and temperature controlled by 5.2%.

Perishables grew by 1.3% with fish and seafood performing well at 5.4%, but meat fell by 8%.

Special cargo yields also fell 3.8% with flowers being the only category to make an improvement, that being 1%.

Origin China is doing better, to destinations outside the Asia Pacific region, exports grew by 0.2%.

WorldACD says though it has been reported that China’s neighbours have benefitted from the US-China trade war, some countries are doing better than others.

Japan, Hong Kong and South Korea each lost around 25% but Vietnam and Taiwan were up 4% and 15% respectively.

China was down 18.5%, Hong Kong by 20%, South Korea by 24%, Japan by 7%, Taiwan by 10.5%,Vietnam rose 9.5%.