Air cargo carriers in the Asia-Pacific region reported further growth in international freight demand in October year-on-year, traffic figures from the Association of Asia Pacific Airlines (AAPA) showed.
The pickup in cargo traffic, which began in the middle of the year, extended into October with a firm 7.1% increase, following the 5.3% growth in September, as measured in freight tonne kilometers.
The October performance recorded the strongest monthly increase of the year thus far, according to AAPA.
Growth in demand significantly outpaced the 3.9% expansion in offered freight capacity, leading to a 1.9 percentage point rise in the average international freight load factor to 65.7% for the month, said the trade association for Asia-Pacific-based airlines.
Andrew Herdman, AAPA director general, said, “The relatively strong upswing in air cargo markets in October sustains the positive trend established over recent months, although overall volumes for the first ten months of the year are up by just 0.7% compared to the same period last year.”
Looking ahead, Herdman said the upswing in air cargo markets is a welcome development, “although confidence remains fragile amidst still weak global trade conditions and signs that protectionist sentiments are likely to shape the political agenda.”
Hefty volumes at Changi
Over at Singapore Changi Airport, the Asian hub’s operator said cargo shipments in October rose 8.9% to reach 176,960 tonnes compared to the same period last year.
For the first 10 months of 2016, volumes grew 5.9% to touch 1.6 million tonnes compared to year-ago levels.
Photo: Buyung koto
