Aeroport-ZaventemAfter a strong start in the early part of 2015, the air cargo industry faltered almost steadily for the rest of the year to record only moderate full-year volume increase, according to WorldACD.

Following a healthy year-on-year growth of 6% in 2014, coupled with a drop in yield of just 2.5%, last year’s air cargo volume worldwide rose by a meager 2% only.

The decline would have been bigger if not for the windfall on the trans-Pacific in the first quarter of 2015 as a result of the U.S. West Coast labor strife, said the air cargo research service.

It noted that worldwide growth dwindled from one quarter to the next, from 4% in the first quarter and 2.5% in the next to a mere 1% volume increase in the last two quarters of last year, but seeing an uptick in December of 2.1% year-on-year in line with the holiday peak season.

The various origin regions posted different performances. The Americas showed negative growth for the year, while Asia-Pacific logged contraction in the last quarter only. Africa just stayed in positive territory, while the Middle East and South Asia showed up-and-down growth across the four quarters.

But Europe “really bucked the worldwide trend,” said WorldACD, as it started with a 1.1% expansion in the first quarter then grew at a varying rate of 3% to 4% in Q2 and Q3, before finishing strongly with a 6% growth in the last quarter.

At the country-pair level, cargo carried on the 50 largest flows, as a percentage of the worldwide total, was slightly less than a year earlier, even though quite a few of these large origin and destination (O&D) pairings are on the trans-Pacific and benefited strongly from the windfall in early 2015. However, the large O&Ds made up for their loss of volume share through a marginally better yield performance.

A trend noted earlier continued, with the top 20 forwarders seeing their worldwide market share further decline, from 44.5% to 43%. But Kuehne+Nagel and Nippon Express were the exception, chalking up serious increases in their shares, followed by others such as DSV, SDV, CEVA, and Expeditors.

Photo: Mini1300

You May Also Like

PH truckers cut volume expectations

The Confederation of Truckers Association of the Philippines (CTAP) has reduced its volume growth projection for the year. CTAP cited soaring fuel prices, relocation…

Evergreen in transpac show of force

Evergreen Line is bolstering its trans-Pacific service network with the launch in May of a new service linking China and the U.S. and with…

Cebu Pacific ups overseas flights for peak season

From the fourth quarter of 2017 until the first quarter of 2018, low-cost carrier Cebu Pacific is increasing the number of flights between the…

More PH truckers to slash rates

The Confederation of Truckers Association of the Philippines (CTAP) reduced its guide rates for the transport of containerized cargoes effective this month, and the…