EUROPEAN CARGO F


AIR CARG O WEEK


EUROPEAN OUTLOOK BY Ruben Plasmeijer, Data Analyst at WorldACD I


n global supply chains, the European continent represents 24 percent of all air cargo tonnages as origin region, compared to 40 percent from the Asia Pacific, and four percent from the African regions. In the first seven months of this year (Year-to-Date 2024) total outbound tonnages from Europe increased eight percent compared to the same period last year (Year-to-Date 2023).


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In terms of air cargo outbound from Europe, three out of 10 top destinations (cities) are in the United States. However, tonnages from Europe to both Shanghai (China) and Dubai (United Arab Emirates) increased ten percent, and 30 percent year-to-date Jul 2024 versus year-to-date July 2023, compared to a mix of both negative and more limited positive growth to the top three US destinations.


This growth is predominantly coming from the major European origin countries in the air cargo industry. The Netherlands, Italy, and the United Kingdom have seen significant growth in air cargo traffic of 15 percent, 14 percent, and nine percent respectively. Moreover, all Western European origin countries combined, make up for a 82 percent market share in Europe’s total air cargo outbound.


“This growth is predominantly coming from the major European origin


countries in


the air cargo industry.”


Looking at product categories, approximately 71 percent of all air cargo traffic from Europe is categorised as general cargo. In the period between January 2024 and July 2024 (year-to-date July 2024) general cargo increased ten percent compared to year-to-date July 2023, whilst special cargo – accounting for 29 percent of Europe’s outbound traffic – increased three percent. This growth was mainly accounted for by product categories such Fruits and Vegetables (+35 percent) and meat (+27 percent).


Rates for air cargo outbound from Europe have developed in a downward trend throughout the whole region. Rates decreased up to 25 percent for air cargo traffic from Western and Northern Europe Year-to-Date July 2024 in comparison to Year-to-Date July 2023. Interestingly, for the same period the already (significantly) higher rates for air cargo traffic to the European continent, continued to rise, averaging 11 percent for tonnages arriving in Western Europe, and 17 percent in Northern Europe.


www.aircargoweek.com


02 SEPTEMBER 2024 ACW


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