WorldACD: Global Air Cargo Rates Stay Elevated as Gulf Capacity Rebuilds

Summary

WorldACD data for week 25 (15-21 June) shows worldwide average air cargo rates rising 1% week-on-week to $3.24/kg, with spot rates up 1% to $3.75/kg, despite further capacity returning to Middle East and South Asia markets after the 17 June US-Iran peace memorandum. The MESA capacity deficit narrowed from -30% to -19% versus pre-war levels, and the Gulf-North America gap improved from -33% to -13%. Year-on-year, worldwide spot rates remain 47% higher, supported by persistent bellyhold shortages, elevated jet fuel costs and risk surcharges.