Containers are down by 7% this week; air cargo is up by 10%
Good morning, colleagues and interested parties
We are sharing the latest version of the cargo report for distribution.
Some highlights discussed this week include the following:
1. SA Logistics reform is ongoing:
a. IMF & Minister Creecy highlighted reforms this week.
b. Port throughput increased to 252 million tons in 2025, up from 239 million tons the year prior.
c. However, throughput remains below levels recorded between 2015 & 2019, emphasising that meaningful recovery and economic impact will depend on the pace: (1) establishing independent regulation, (2) enabling private sector participation (Richards Bay RFQ this week), (3) ensuring transparent concessioning, and (4) restoring institutional and financial stability across the logistics system.
2. Global air update:
a. Air cargo demand remained strong, with global CTKs +4,3% (y/y) in December and +4,6% (y/y) in Q4 (76,4bn CTKs), marking the tenth consecutive quarter of growth.
b. International volumes expanded +5,7% (y/y), led by Asia Pacific (+9,9%) and Africa (+15,1%), reflecting strengthening trade corridors and improved network connectivity.
c. Capacity increased +4,7% (y/y), including +16,9% in Africa, while load factors remained stable – indicating demand broadly matched supply expansion.
