Worldwide air cargo tonnages are on track for a 4% full-year growth in 2025, after chargeable weight in October recorded another 4% year-on-year (YoY) increase, driven by 9% YoY growth from Asia Pacific origins, according to the latest figures from WorldACD Market Data.

Analysis this week by WorldACD indicates that for the first 10 months of 2025, average worldwide air cargo tonnages were 4% higher than in the equivalent months last year, with Asia Pacific origins recording a 7% YoY increase for the year to date (YtD).

On the pricing side, average worldwide rates for the first 10 months of this year were more or less equivalent to their level last year, even though the totals for each month have been in deficit, YoY, since May.

October month-on-month increase 

In what is normally a key peak-season month, volumes in October rebounded with a 8% increase compared with September, thanks to strong month-on-month (MoM) increases from North America (11%, MoM), Central & South America (11%), Europe (10%), Asia Pacific (8%), and Africa (7%), with tonnages from Middle East & South Asia (MESA) flat.

On the pricing side, average worldwide rates of $2.48 per kilo, based on a mix of spot and contract rates, edged upwards by 1%, MoM, thanks largely to a 3% MoM rise from Asia Pacific origins. But average rates worldwide (-5%, YoY), and from Asia Pacific origins (-6%, YoY), were below their level last October. Europe was the only major origin region to record any YoY increase in average rates in October (+1%).

There were similar patterns for both spot rates and contract rates, with worldwide average spot rates down by 4%, YoY. Average spot rates from Europe origins of $2.17 per kilo were flat, YoY, but there were significant decreases from MESA (- 27%, YoY) from their elevated levels last year, and from Asia Pacific (-7%) and North America (-3%).

Compared with last October, October 2025 is showing some very similar patterns, with both months recording a 8% MoM increase in worldwide tonnages and a 1% rise in average global rates. And the MoM tonnage changes for the six main origin regions are similar in October 2025 to those in October 2024, although this year tonnages from Asia Pacific origins rebounded more strongly (8%, MoM) than last year (5%, MoM).

The main difference is that average global rates this October are around 5% lower, YoY, despite tonnages being 4% higher. Factors within those comparisons include lower jet fuel prices this year compared with last year, and a weaker US dollar, although those two factors more or less cancel each other out in terms of their impact on worldwide air cargo rates, the report said. - TradeArabia News Service