Published March 05, 2014 Global cargo volumes jump 4.5% in January Mid-East carriers chalk up highest increase as volumes soar 10.7%: Iata BY NISHA RAMCHANDANI [email protected] PRINT |EMAIL THIS ARTICLE After a fairly subdued growth in 2013, the international cargo market started off Jan strongly with airfreight volumes (measured in freight-tonne-kilometres) increasing 4.5 per cent year on year - PHOTO: REUTERS [SINGAPORE] After a fairly subdued growth in 2013, the international cargo market started off January strongly with airfreight volumes (measured in freight-tonne-kilometres) increasing 4.5 per cent year on year. According to data released yesterday by the International Air Transport Association (Iata), this was a significant acceleration from the 2.2 per cent growth in December and the 1.4 per cent full-year growth for 2013. This came on the back of improved business confidence and a pick-up in global trade growth. All regions recorded a rise in airfreight volumes in January this year compared to the corresponding month in 2013. Asia-Pacific carriers - accounting for a sizeable near 40 per cent chunk of airfreight volumes - registered growth of 3.8 per cent in January, backed by robust regional trade. In comparison, the regions carriers posted a decline of one per cent for 2013. In January, Asia-Pacific carriers had a load factor of 50.8 per cent as the growth in airfreight volumes was matched against a sharper 9.7 per cent expansion in capacity (measured in available freight-tonne-kilometres). However, it was the Middle Eastern carriers which chalked up the highest increase, with airfreight volumes climbing 10.7 per cent year on year in January. European carriers registered a 6 per cent rise as the region continues to emerge from recession, while North American carriers posted a measly 0.7 per cent increase - the weakest of the regions - impacted by declining capacity. Still, Iata noted that early indicators for February suggest a strong rebound could be on the cards after weak business activity in the manufacturing sector in January. Meanwhile, African airlines earned growth of 4.1 per cent and Latin American carriers, 6.8 per cent. The improvement in demand is good news. It is a step-up in pace from the mild strengthening that we saw towards the second half of 2013. And in real terms, volumes are similar to the 2010 post-recession peak, said Iatas director-general, Tony Tyler. But he cautioned that protectionist measures were still contributing to slower expansion of world trade. Companies continue to re-organise supply chains in their efforts to move manufacturing onshore, he said.
Posted on: Wed, 05 Mar 2014 02:02:32 +0000
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