Airfreight rates from Asia Pacific to Europe increased last week despite a decline in cargo volumes, highlighting the resilience of pricing on the major trade lane amid softer demand. The latest data from WorldACD showed that global airfreight volumes weakened in the first full week of August, but Asia–Europe pricing remained comparatively firm.
Global chargeable air cargo weight fell 4% week on week during August 3–9, with Asia Pacific volumes declining by around 3%. Europe-bound traffic from the region also came under pressure as changes to European import rules affected e-commerce shipments.
Despite the volume decline, Asia–Europe airfreight rates moved higher, suggesting that reduced cargo demand has not yet translated into equivalent downward pressure on prices. Capacity adjustments and relatively tight availability on some routes are helping support rates.
The European market has been affected by the EU’s changes to low-value import treatment, which have contributed to weaker e-commerce-related air cargo flows from Asia. China–Europe volumes have also continued to decline as shippers and logistics providers adjust to the new regulatory environment.
At the same time, global air cargo pricing remains significantly above last year’s levels. WorldACD data showed that global rates were still around 22% higher year on year, even as overall tonnage and capacity declined during the first week of August.
For airlines and freight forwarders, the divergence between volumes and rates highlights the continuing complexity of the airfreight market. Lower demand does not necessarily mean lower freight costs when capacity is being adjusted and particular trade lanes continue to face supply-chain and operational constraints.
The Asia–Europe corridor remains a key market for manufacturers, e-commerce companies and high-value exporters. Continued monitoring of capacity, regulatory changes and shipment patterns will be crucial for shippers planning airfreight movements into Europe during the remainder of the summer peak period.
If the current volume weakness persists, carriers could face greater pressure to adjust capacity and pricing. For now, however, Asia–Europe airfreight rates are showing greater resilience than cargo volumes, keeping freight costs elevated for exporters and importers.