Airports around the world suffered a 1.9 per cent decline in air freight in June but are hopeful ofan upturn in the second half of the year.
International air freight slumped 2.9 per cent while domestic freight was flat at 0.1 percent, the latest monthly survey by airports association ACI showed.
This left total air freight volumes, measured in tonnage, up just 1.9 per cent in the firstsix months of 2011, with international freight 2.1 per cent higher and domestic tonnage up by 1.1per cent.
Cargo load factors were reported to be down worldwide, as many carriers maintained highcapacity after the unprecedented growth in freight volumes throughout most of 2010.
Andreas Schimm, Director of Economics at ACI World, commented: “Freight may well be downpartially due to high fuel prices and it is likely there has been a diversion to maritime forfreight that is less time-sensitive. And in Asia Pacific, there continues to be a contraction infreight volumes as Japan recovers from the industrial production decreases following the earthquakeand tsunami earlier this year.”
But he added more optimistically: “The IMF continues to forecast growth in emerging anddeveloping economies and increased world trade for the last half of 2011; thus cargo should bounceback before year-end”.
Asia Pacific volumes dropped 3.4 per cent in June, including a 4.2 per cent drop ininternational traffic, leaving half-year tonnage just 1 per cent higher and international volumesstagnant at 0.1 per cent. Trade in high value auto parts, one major driver of volume, has beenparticularly affected in the region as Japan’s manufacturing sector struggles to recover, ACInoted.
Europe fell 3.6 per cent in June but had a 4.9 per cent increase over the first half-year foroverall volumes. International tonnage is the overwhelming segment at European airports withdomestic air freight representing only a very small proportion. One possible explanation for thedecline, according to ACI, could be that shippers in Europe can easily divert freight to truck orrail when fuel prices are high.
North America had minimal growth of 0.3 per cent in June, including a 0.7 per cent drop ininternational air freight. Half-year volumes were up by 0.9 per cent, with international up by 1.9per cent.
Last year’s top growth region, the Middle East, has seen a slowdown this year with just 0.4per cent growth in June and a 1.7 per cent decline in total volumes over the first half-year.Domestic freight is negligible at the region’s airports.
Latin America/Caribbean was the only growth region in June with a 2.2 per cent overallincrease and a 4.7 per cent rise in international air freight. Total volumes were 9.2 per centhigher over the first half-year, including an 11.5 per cent rise in international air freight.
The smallest regional air freight market, Africa, slumped 12.8 per cent in June and was 3.2per cent lower over the first six months, in overall terms.
