North Africa is among just a handful of global air cargo origin subregions to record growth in the first half of 2023 amid a wider overall picture of declining year-on-year (YoY) chargeable weight and average rates on most markets. On a full regional basis, only Central & South America (+1 percent) recorded any YoY growth in the first half of 2023, with tonnages ex-Africa stable. Spot vs contract rates balance in Q2One interesting development in the second quarter of 2023 has been a slight shift back in favour of contract rates. That follows a progressive trend over much of the last year in which customers bought an increasing share of their business via the spot market, after spot prices dropped below contract prices on many lanes by mid-2022. On transpacific markets, the picture is less clear in a more-volatile market that has seen big price disparities at certain times in the last 12 months between the levels of contract rates and spot rates.

Source: The North Africa Journal August 09, 2023 14:59 UTC