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Global airfreight volumes surge 6.8pc in November: IATA
GLOBAL airfreight volumes in November 2016 rose 6.8 per cent compared with the same 2015 period, according to the most recent data from the International Air Transport Association (IATA).
The November increase was a slight slowdown from the 8.4 perc ent year-over-year growth seen in October, a 20-month high, but still well above the 10-year average growth rate of 2.6 per cent.
Available airfreight capacity rose 4.4 per cent year-over-year for the month.
IATA attributed the continued growth in demand primarily to an increase in the shipment of silicon materials typically used in high-value consumer electronics, and an apparent turnaround in new export orders, as well as a modal shift to air cargo resulting from the August 2016 collapse of South Korean ocean carrier Hanjin Shipping Co.
IATA's Director General and CEO Alexandre de Juniac said in a statement: "Air cargo enjoyed a strong peak season in November. And there are encouraging signs that this growth will continue into 2017, particularly with the shipment of high-value consumer electronics and their component parts.
"But, the trend in world trade is still stagnant. So it remains critically important for the air cargo industry to continue to improve its value offering by implementing modern customer-centric processes."
On a regional level, Asia Pacific airfreight carriers saw demand rise 6.1 per cent for the month, as volumes returned "to the levels reached in 2010 during the post-global financial crisis bounce-back," IATA said.
European airlines posted a 9 per cent year-over-year increase in demand for November, a slight slowdown from the 13.3 per cent growth seen in October.
North American airfreight carriers saw international volumes grow 5.6 per cent in November from a year prior, driven in part by an increase in westbound import flows from Europe to the US helped by a strong dollar.
Middle Eastern airlines saw volumes jump 7.8 per cent from a year earlier, while African carriers experienced a 10.9 per cent year-over-year spike in demand, the largest increase among the various regions tracked by IATA.
Latin American airfreight carriers, on the other hand, saw demand slip 1.3 per cent from a year earlier, as regional demand continues to be held down by weak economic and political conditions, particularly in Brazil, Latin America's largest economy.
The intra-South America market has been the weakest performer to date in 2016, with volumes down nearly 20 per cent compared to the same 2015 period, according to IATA, the American Shipper reported.
The November increase was a slight slowdown from the 8.4 perc ent year-over-year growth seen in October, a 20-month high, but still well above the 10-year average growth rate of 2.6 per cent.
Available airfreight capacity rose 4.4 per cent year-over-year for the month.
IATA attributed the continued growth in demand primarily to an increase in the shipment of silicon materials typically used in high-value consumer electronics, and an apparent turnaround in new export orders, as well as a modal shift to air cargo resulting from the August 2016 collapse of South Korean ocean carrier Hanjin Shipping Co.
IATA's Director General and CEO Alexandre de Juniac said in a statement: "Air cargo enjoyed a strong peak season in November. And there are encouraging signs that this growth will continue into 2017, particularly with the shipment of high-value consumer electronics and their component parts.
"But, the trend in world trade is still stagnant. So it remains critically important for the air cargo industry to continue to improve its value offering by implementing modern customer-centric processes."
On a regional level, Asia Pacific airfreight carriers saw demand rise 6.1 per cent for the month, as volumes returned "to the levels reached in 2010 during the post-global financial crisis bounce-back," IATA said.
European airlines posted a 9 per cent year-over-year increase in demand for November, a slight slowdown from the 13.3 per cent growth seen in October.
North American airfreight carriers saw international volumes grow 5.6 per cent in November from a year prior, driven in part by an increase in westbound import flows from Europe to the US helped by a strong dollar.
Middle Eastern airlines saw volumes jump 7.8 per cent from a year earlier, while African carriers experienced a 10.9 per cent year-over-year spike in demand, the largest increase among the various regions tracked by IATA.
Latin American airfreight carriers, on the other hand, saw demand slip 1.3 per cent from a year earlier, as regional demand continues to be held down by weak economic and political conditions, particularly in Brazil, Latin America's largest economy.
The intra-South America market has been the weakest performer to date in 2016, with volumes down nearly 20 per cent compared to the same 2015 period, according to IATA, the American Shipper reported.
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