The International Air Transport Association (IATA) has announced that global air cargo traffic rose by 14.8% in September, down from 19% growth the previous month, translating into a month-to-month decline of 2.1% when adjusted for seasonal factors, according to the Shipping Gazette.
Citing a Reuters report, the Gazette said the trend in freight traffic was weaker than expected and volumes were now 6% below the May peak.
"The freight numbers are worrying," IATA director general Giovanni Bisignani was quoted as saying.
The report noted that air freight demand "remained 14% below pre-recession levels in Europe despite the weaker euro and was also still one per cent down in North America." On the other hand, seasonally adjusted figures show passenger traffic rose by 2.1% in September year on year. "The industry's situation is volatile," said Bisignani.
"Passenger traffic represents about three quarters of the industry's revenues. While September's passenger growth is reassuring, the accelerating decline of air freight, including in Asia, is an early indicator of some turbulence ahead."
A report by the American Shipper noted that Asia Pacific carriers are leading the rebound in air freight, with a 15%cent increase in freight demand in September, against 11.1% growth in Europe and 13% in North American. Middle East carriers saw freight demand increase by 24%. --Source: Shipping Gazette