Weekly Air Operations Update: Shanghai to Europe, US and Australia 28/04/23

Shanghai to London

• Due to the approach of China's national holiday this week, the air freight market is more active, and air freight prices have increased slightly
• Airport operations are currently normal
• Hauliers are working as normal
• No flight cancellations
• No weather disruptions
• Space is currently open
• Rates are up slightly this week

Shanghai to New York

• Due to the approach of China's national holiday this week, the air freight market is more active, and air freight prices have increased slightly
• Airport operations are currently normal
• Hauliers are working as normal
• No flight cancellations
• No weather disruptions
• Space is currently open
• East USA rates are increasing

Shanghai to Los Angeles

• Due to the approach of China's national holiday this week, the air freight market is more active, and air freight prices have increased slightly
• Airport operations are currently normal
• Hauliers are working as normal
• No flight cancellations
• No weather disruptions
• Space is currently open
• West USA rates are increasing

Shanghai to Frankfurt

• Due to the approach of China's national holiday this week, the air freight market is more active, and air freight prices have increased slightly
• Airport operations are currently normal
• Hauliers are working as normal
• No flight cancellations
• No weather disruptions
• Space is currently open
• Rates are up slightly this week

Shanghai to Melbourne

• Space on the Australia route is getting tight as electronics manufacturers are launching new products, and prices are rising
• Airport operations are currently normal
• Hauliers are working as normal
• No flight cancellations
• No weather disruptions
• Space is currently open
• Air rates are rising slowly

Shanghai to Sydney

• Space on the Australia route is getting tight as electronics manufacturers are launching new products, and prices are rising
• Airport operations are currently normal
• Hauliers are working as normal
• No flight cancellations
• No weather disruptions
• Space is open
• Air rates are rising slowly

Market intel

• IATA data shows air cargo demand rising above pre-Covid levels

  IN February 2023, global air cargo demand decreased 7.5 per cent compared to the same month in 2022, which is less than the decline seen in the previous two months, according to the International Air Transport Association (IATA).
  
  However, February 2023 demand was 2.9 per cent higher than pre-Covid crisis levels in February 2019, marking the first time it has surpassed pre-Covid crisis levels in eight months.
  
  Meanwhile, available cargo tonne-kilometers (ACTKs) were up 8.6 per cent compared to February 2022, reflecting the addition of belly capacity as the passenger side of the business continues to recover.
  
  International belly capacity increased 57 per cent in February YoY, reaching 75.1 per cent of pre-Covid crisis capacity.
  
  Several factors in the operating environment are worth noting, including an increase in the global new export orders component of the manufacturing PMI, which is a leading indicator of cargo demand.
  
  China's PMI level surpassed the critical 50-mark, indicating growing demand for manufactured goods from the world's largest export economy.
  
  Global goods trade decreased 1.5 per cent in January, which was a slower rate of decline than the previous month.
  
  Additionally, the Consumer Price Index for G7 countries decreased from 6.7 per cent in January to 6.4 per cent in February, and inflation in producer (input) prices reduced by 2.2 percentage points to 9.6 per cent in December.
  
  

• N. China
  

  With the resumption of European/US flights such as BA/AA, the problem of space has been greatly alleviated and air freight prices are expected to continue to fall
  
  

• S. China

   Due to the limited flights in South China, air rates of South China are relatively at high level