Chinese New Year confirms air cargo slide in Asia Pacific: WorldACD

The usual strong dip after CNY was deeper this year than last year, and also lasted longer in terms of “low-business days”.


WorldACD


Air cargo’s difficult start to 2016 was extended into February with worldwide volumes declining by 3.8 per cent year-on-year (YoY), the largest YoY volume drop in three years, according to the latest analysis by WorldACD Market Data. The origins Asia Pacific and North America were the main culprits with January/February together seeing these destinations posting YoY volume decreases of more than 7.0 per cent.

Africa, Europe and Middle East & South Asia each posted around 5.0 per cent growth for the same period. “Of course, the weak YoY figures for Asia Pacific and North America ought to be viewed against the backdrop of last year’s windfall due to the port strike in the United States,” WorldACD said also highlighting the negative impact of Chinese New Year on the February totals which was greater this year because it took place much earlier in the month than last year.

Negative YoY patterns around Chinese New Year (CNY) provided further confirmation of the air cargo slide in Asia Pacific. The usual strong dip after CNY was deeper this year than last year, and also lasted longer in terms of “low-business days”. From China and Hong Kong, the 2015 post-CNY-dip showed only one day with less than 10 per cent of the pre-CNY volumes; this year there were four such days.