Hopes are high that the traditional peak season will return in 2024, which is good news for the airfreight market, which has been under pressure for some time.
While the global supply chain chaos caused by the pandemic created many opportunities for the air cargo industry, the drop in consumer spending around the world resulted in sharp decreases in air cargo demand in 2022, which continued in 2023.
According to Wenwen Zhang, airfreight analyst at Xeneta, the past four years have been a rollercoaster ride.
“No matter whether it is supply or demand, there has been high volatility.
"The imbalance in the market is now mostly corrected and starting from 2024 we will have more chance of a classic seasonality.”
Zhang said this was especially important for Asia to Europe and North America, with a return of capacity along with a pick-up in demand during the fourth quarter of the year.
“The return of classic seasonality means shippers have more confidence in where the peaks and troughs in rates will fall.”
- Read the full article here: "2024 could be a fresh start for the industry."
