China air cargo exports soar ahead of Lunar New Year

Air cargo export rates have surged in week five (January 29 to February 4), the full final week ahead of lunar new year on February 10, 2024, according to a WorldACD market data report. The report suggests that the surge comes “as shippers rush to get goods shipped before the lunar new year holiday period.” This surge has helped a continual rise in global air cargo demand and rates. Cargo shipments from China to North America increased by 14% week on week (WoW). Similarly, China to Europe rates increased by 8% WoW. However, these rates were still below the fourth