Global traffic volume in terms of chargeable weight dropped in week 22 (25 to 31 May) by -9% week on week (WoW), largely in response to public holidays Pentecost, US Memorial - Day and Eid al-Adha, a decrease that was similar to the -8% drop in volume in the same week last year. Nevertheless, pricing rose +2% WoW while capacity shrank by -1%.

According to the latest weekly figures from WorldACD Market Data, volumes dropped from all regions WoW, ranging from -3% decline out of Asia Pacific and Central and South America (CSA) to drops of -20% out of Africa and -21% from the Middle East & South Asia (MESA) region.

Unlike the one-day Memorial Day (USA), Pentecost in Europe, the Eid al-Adha festival lasted four days, which accounts for the steep volume decreases in MESA and Africa origin traffic, stated the report. 

More specifically, chargeable weight from MESA to Europe fell -17% WoW, as volumes out of Dubai and Bangladesh dropped -25% and -45% respectively, while traffic from India shrank -4%. But also in the other direction the impact was notable, reflected in double-digit volume declines from Europe to MESA by -22% WoW and to Africa by -17%, respectively.

As per WorldACD Market Data, Year on year (YoY) volume was down -3% overall as well as out of North America, while falling in double digit percentages out of Europe, Africa and MESA, whereas Asia Pacific and CSA registered single digit volume gains.

The MESA region was also the chief dynamic behind a -1% WoW contraction in global capacity, which marked the second retreat since the outbreak of the war in the Middle East, after a -2% WoW drop in week 19 triggered by the Super Golden Week in Asia Pacific and the end of the Mother’s Day flower shipment rush. While capacity was unchanged or down -1% out of all other regions, MESA showed a decline of -6% WoW.

Volumes from Asia Pacific to Europe and the US slipped -2% and -1% respectively WoW, with chargeable weight down to Europe from all origins except China, Vietnam and Thailand, which show gains between +1% and +4%. 

Flows to the US from Hong Kong, South Korea, Thailand and Indonesia to the US show volume gains between +2% and +4% WoW, while China exports were flat and other origins suffering declines between -2% and -9%.-TradeArabia News Service