Global air cargo rates saw a significant year-on-year increase of 12%, fueled by strong demand from sectors like e-commerce and ongoing supply chain disruptions across various regions, according to WorldACD Market Data. The average worldwide rate reached $2.50 per kilogram, marking a 2% rise compared to June and a 44% increase compared to July 2019, the last pre-COVID equivalent period. Rates have been steadily climbing, from around $2.30 per kilogram in the first quarter to $2.45 in the second quarter, with further slight growth in July.

One of the key contributors to this increase was the Asia Pacific to U.S. lane, where spot rates averaged around $5.80 per kilogram in July, a sharp rise from the already high levels seen in June. This represents a nearly 70% increase compared to July 2023.

Despite ongoing political and logistical challenges in Bangladesh, air cargo volumes from the country rebounded in week 31 after a decline in weeks 28-29. Although these tonnage levels remain below the strong figures recorded during the same weeks last year, they have shown signs of recovery. On the pricing front, spot rates from Bangladesh to Europe surged to $4.87 per kilogram in week 31, the highest level this year. This figure is nearly three times (+173%) higher than the same week last year, reflecting the impact of disrupted air and customs services on an already constrained market.