Global air cargo volumes see 5% jump in July: Xeneta

Global air cargo volumes jumped over 5 per cent year-on-year in July as more shippers opted for the speed of airfreight to help circumvent U.S. tariffs, according to the latest market analysis by Xeneta. Market sentiment, however, remains subdued as tariff talks in Washington remain in flux, with a new deadline now set for 7 August for a broad range of trading partners. The lack of clarity continues to cast a shadow over global trade flows, particularly in the airfreight sector. Contrary to the usual seasonal lull, July saw a notable upturn in global air cargo demand following a modest over one per cent gain in June. This unexpected boost, bucking seasonal patterns, appears driven in part by tariff-related frontloading, mode shift and persistent uncertainty, prompting businesses to expedite shipments. With cargo capacity in July increasing by a lower level of over 3 per cent year-on-year, the more robust over 5 per cent rise in volume helped lift the dynamic load factor, which has now returned to levels comparable with a year earlier (58 per cent) and recovering the minus 2 per cent point decline recorded just a month ago. Dynamic load factor is Xeneta’s measurement of capacity utilisation based on volume and weight of cargo flown alongside available capacity.