Containers are up by 15% this week; air cargo is up by 20%
Good morning, colleagues and interested parties
We are sharing the latest version of the cargo report for distribution.
This is the third report of the year.
Some highlights discussed this week include the following:
1. South Africa:
a. Weekly port volumes are back at the elevated throughput levels achieved at the end of last year, as the daily average has inched up to 8,699 TEUs per day (excluding DGT).
b. Air freight has also picked up from the turn of the year lull, as the daily average in January is now up to 876,797 kg to and from ORTIA.
c. AGOA has been renewed in the US House of Representatives, but the extension is not yet law and still requires passage by the Senate and signature by the President.
2. Global industry summary:
a. Liner schedule reliability has plateaued (but remains up by +9%, y/y); Suez returns tentative, as political uncertainty remains; and rates drop significantly, as CNY blanks are unveiled.
b. Strong global post-holiday rebound in international air cargo demand (up by +11%, w/w), whilst rates have bottomed and edged higher to roughly $2,41/kg; widespread flight cancellations across the US & Canada.
