DHL says its Air Freight State of the Industry report (March 2024) is now available with highlights of the latest global air freight market developments in this monthly analysis by DHL Global Forwarding.
- Global air cargo demand remained solid in March 2024, with volumes returning to typical levels after strong pre-Chinese New Year increase in January 2024.
- Longer transit times for ocean freight, due to vessel diversions around the Cape of Good Hope also pushed shippers towards pure air freight and sea-to-air solutions.
- E-commerce continues to drive volume growth out of South China and Hong Kong. Meanwhile, air cargo demand remains high from Bangkok to Europe, boosted by road-air volumes trucked down from Vietnam and other regions impacted by conflicts in the Middle East.
- Global air cargo capacity is now at plus nine percent year-on-year versus March 2023, while belly cargo capacity is now up 12 per cent compared to the same period last year. The rise in belly capacity could relieve some pressure from the increasing airfreight demand.
- Striking a balance between demand and capacity will be paramount to normalising the airfreight situation in the coming months.
The DHL Air Freight State of the Industry is a monthly report by DHL Global Forwarding, which tracks and analyses the latest developments of the global air freight market.
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