North Africa is among just a handful of global air cargo origin subregions to record growth in the first half of 2023, according to analysis by WorldACD Market Data. Capacity, meanwhile, has now recovered to its pre-Covid levels in Q2 2019, having risen by +11% compared with Q2 last year. On the pricing side, average air cargo rates in the second quarter of 2023 were down by -40%, YoY, although they remain significantly above pre-Covid levels (+34% compared with Q2 2019). 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.

Source: The North Africa Journal August 09, 2023 08:24 UTC