Worldwide air cargo rates increased 6 percent over the past five weeks through January 25, reflecting strengthening demand across major trade lanes as the industry rebounds from post holiday slowdowns.
The latest data from WorldACD Market Data shows global chargeable weight, a key volume indicator, remained essentially flat with a 1 percent decline over the five week period. However, capacity expanded 26 percent year over year, creating pricing pressures that carriers managed through rate adjustments.
Africa emerged as the strongest performing origin region, with rates climbing 11 percent over the past two weeks compared to the preceding fortnight. The continent’s chargeable weight increased 3 percent over five weeks while capacity expanded 14 percent year over year.
Middle East and South Asia also showed robust rate growth at 11 percent on a two week comparison basis. However, the region experienced a 12 percent decline in chargeable weight over the past two weeks, suggesting rate increases reflected capacity constraints rather than demand surges.
Central and South America posted the highest rate gains at 12 percent over two weeks, supported by 10 percent volume growth over five weeks. Capacity in the region increased 28 percent year over year, among the highest expansions globally.
Europe recorded 8 percent rate growth over two weeks with 7 percent gains over five weeks. Chargeable weight in the region increased 1 percent while capacity expanded 57 percent year over year, the largest capacity addition among all regions.
Asia Pacific, traditionally the largest air cargo origin region, showed 6 percent rate growth over two weeks and 7 percent over five weeks. Volume remained flat while capacity increased 21 percent year over year as airlines deployed additional freighter and belly cargo space.
North America demonstrated the most modest performance, with rates increasing just 2 percent over two weeks and remaining flat over five weeks. Volume declined 4 percent over the past two weeks while capacity expanded 23 percent year over year.
The data, based on more than 500,000 transactions per week, shows average global rates reached 2.43 United States dollars per kilogram during the week of January 19 to 25. This compares to 2.46 dollars in the same week of 2025, representing a modest year over year decline despite recent upward momentum.
Rates had declined steadily through late December and early January following the peak holiday shipping season. The five week period captured in the latest report shows recovery from those seasonal lows as manufacturers and retailers restocked inventories.
Specific trade lane performance varied significantly. Africa to North America routes showed 28 percent rate growth over two weeks, while Africa to Europe increased 12 percent. Africa to Asia Pacific gained 1 percent, reflecting diverse demand patterns across destination markets.
Asia Pacific to North America, one of the world’s busiest cargo corridors, recorded 22 percent rate growth over two weeks. Asia Pacific to Europe increased 21 percent while intra Asia routes gained just 1 percent, highlighting strength in long haul exports versus regional movements.
Central and South America to North America routes surged 69 percent over two weeks, likely reflecting perishable exports including flowers, fruits and vegetables requiring expedited transport. The region to Europe increased 25 percent.
Europe to Asia Pacific climbed 64 percent over two weeks, the highest rate gain for any major trade lane. Europe to North America increased 7 percent while intra Europe routes showed minimal movement.
Middle East and South Asia to Europe jumped 68 percent over two weeks, while the region to North America gained 30 percent. These increases occurred despite volume declines, suggesting tight capacity on specific routes.
North America outbound routes showed mixed results. North America to Asia Pacific declined 1 percent over two weeks while North America to Europe fell 3 percent. North America to Central and South America increased 6 percent.
Air cargo markets typically experience seasonal patterns, with peak demand during autumn months as retailers prepare for holiday sales. January and February represent slower periods before spring restocking drives renewed activity.
The industry faces ongoing capacity challenges as airlines balance passenger and cargo operations. Dedicated freighter aircraft provide stable cargo capacity, while passenger aircraft belly holds fluctuate based on travel demand and route networks.
Supply chain disruptions including port congestion, trucker shortages and manufacturing delays can shift cargo volumes toward air transport despite higher costs. Companies prioritize speed over expense when inventory shortages threaten production schedules or sales commitments.
E commerce growth continues driving air cargo demand, particularly for high value consumer electronics, fashion items and express shipments requiring rapid delivery. Cross border online retail generates consistent volumes less susceptible to traditional seasonal patterns.
Geopolitical tensions, trade policy changes and economic conditions influence cargo flows between regions. Tariff adjustments, sanctions or regulatory changes can quickly redirect trade lanes and alter demand balances.
Fuel prices represent significant cost components for air carriers, with jet fuel volatility directly impacting profitability and rate structures. Recent fuel price stability has helped carriers maintain rate discipline despite capacity additions.
WorldACD Market Data aggregates transaction information from forwarders, airlines and ground handlers to produce weekly air cargo market intelligence. The organization publishes detailed analysis for subscribers covering hundreds of specific origin destination pairs and product categories.
The latest report covers the period through January 25, with data collection and analysis completed by January 29. Weekly updates provide industry participants with near real time visibility into rate movements and volume trends.
