AIR CARG O WEEK


WEEKLY NEWS


ANALYSING THE EUROPEAN MARKET


05


BY Rogier BLOCQ, Head of Product Development at WorldACD


ACCORDING to analysis by WorldACD Market Data, the Europe region recorded significant growth in 2024 for both inbound and outbound air cargo tonnages, although there were notable variations from month to month. In December, for example, inbound tonnages to Europe were up, year on year (YoY), by +7 percent, and outbound tonnages from Europe by +2 percent compared with December 2023, while the trend for 2024 as a whole was one of strong growth, especially for inbound tonnages, increasing for the full year by +15 percent YoY, and outbound chargeable weight growing by +7 percent.


flown to Europe. Cargo flown from China Central and West to Europe also recorded significant growth (+51 percent) in 2024.


All-but-one of Europe’s top 10 largest outbound air cargo markets Within those growth figures there is significant variation between


the performance of general cargo and special cargo products – and among those special cargo product categories. Outbound from Europe, general cargo volumes grew at a slightly higher rate (+8 percent, YoY) than special cargo traffic (+5 percent), although there was particularly strong growth from several special cargo products, most notably meat (+33 percent), fruits and vegetables (+20 percent), and fish and seafood (+10 percent). Dangerous goods (+6 percent), vulnerables/ high-tech (+5 percent), flowers (+2 percent) and valuables (+2 percent)


recorded modest growth outbound from Europe, while


live animal shipments recorded a significant decline (-15 percent, YoY) outbound from Europe in 2024. On the inbound side, general cargo – which includes significant volumes of e-commerce traffic – increased by +17 percent in 2024, with inbound special cargo volumes increasing by +11 percent, YoY. Within those special cargo categories, vulnerables/high-tech recorded +29 percent inbound growth, with meat (+13 percent) and fish and seafood (+11 percent) also seeing double-digit percentage growth in inbound volumes to Europe.


recorded growth in 2024, based on the more than 2 million monthly transactions recorded by WorldACD’s global database. USA North East remains Europe’s top outbound air cargo market by flown chargeable weight, after recording +5 percent growth, YoY, with China East only slightly behind now following +8 percent growth in 2024. Meanwhile, there was double-digit percentage growth in tonnes flown from Europe to the United Arab Emirates (+27 percent, YoY), India (+17 percent), and Saudi Arabia (+38%).


On the pricing side, average full-market rates for outbound


shipments from Europe decreased by -17 percent in 2024, while average rates for inbound shipments to Europe rose by +15 percent, year on year. Outbound rates from Northern Europe and Western Europe declined the most, at -18 percent and -17%, respectively, with average prices from Balkan and SE Europe (-11%) and from Eastern Europe (-13 percent) holding up slightly better. Conversely, inbound rates to Northern Europe (+24 percent, YoY) and Western Europe (+15 percent) recorded the biggest increases in 2024, with smaller increases to Balkan and SE Europe (+6 percent) and Eastern Europe (+12 percent, YoY).


Asia continues to dominate the top 10 largest inbound origin


markets for air cargo flown to Europe, with Hong Kong once again leading – thanks in part to +27 percent YoY growth in 2024 – followed by China East (+19 percent, YoY), China South East (+21 percent), and India, which recorded +22 percent YoY growth in chargeable weight


www.aircargoweek.com 20 JANUARY 2025 ACW


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