Transpacific air cargo registered a 25 per cent revenue growth in July, as global freight revenues rose almost nine per cent versus prior month 2013.
Latest analysis from Netherlands-based research house WorldACD found that global volume in July increased six per cent year on year, accompanied by a US$-yield improvement of 2.9 per cent.
The US$-yield remained stable for the third month in a row, “another phenomenon not seen for quite a while,” said the consultancy that uses primary data supplied from airlines worldwide.
It added: “A crisis in air cargo? For July, we recorded a year-over-year revenue growth of almost nine per cent, so one could be forgiven thinking for a moment that the industry is healthy as can be.
“Of course, structural problems continue to trouble the sector, making rejoicing premature. But in a harsh business environment, who wouldn’t be pleased with the market growth in 2014 so far.”
Of the total volume-growth in July, two-thirds came from the Asia Pacific area, “once again the engine for growth”.
The markets between Asia Pacific and North America showed a 25 per cent revenue growth (both directions).
Europe remained true to its recent past, said WorldACD, adding: “Its outbound business again showed much less volume growth than the worldwide average, but a higher yield growth, six per cent in US$, and 2.4 per cent in euros.”
In its focus on the European market, WorldACD said: "Do we see a modal shift on the North Atlantic? It seems that air tons - as a percentage of air & sea tons - increased from 2008 to 2010 and declined in 2011. They have been fairly stable since, hovering between 0.94 per cent and 0.99 per cent.
"For all commodities with an air share of 10 per cent or more, the figures for the last three years are equally stable, with an air share between 24.5 per cent and 25.5 per cent.
"The picture is radically different in pharmaceuticals, the air percentage dropping from 43 to 32 over the past three years, though actual tons carried are growing in both transport modes. WorldACD stats make it clear that high-yield pharma by air continues to outpace air growth in general."
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