Air cargo rates rise throughout March to 2023 fourth quarter levels

Global air cargo rates maintained an upward trajectory in March, driven by robust demand and rising rates from Asian and Middle Eastern origins, reveals data from WorldACD Market Data. The average price surged to within -7% of last year’s elevated levels, reminiscent of the peak season in the winter of 2023. Weekly figures show a consistent rise, with rates increasing by around +2% in week 13 to $2.48 per kilo, following consecutive weekly upticks of between +2% and +3% in the previous month. This trend narrowed the gap between rates this year and last year. Notably, rates in January and