As the air freight market enters a new phase driven by a steady increase in supply and mediocre demand, use Ti’s Q2 2023 Air Freight Rate Tracker to understand market dynamics and future rate expectations.
Q2 2023 – Key Data:
Air freight rates showing less volatility but there are signs that rate falls aren’t over as demand remains weak but belly freight increases market capacity.
Headhaul rates ended Q2 2023 down 40.6% year-on-year.
Q2 2023 capacity up 9.9% year-on-year.
Summer flights set to further increase belly freights and keep rates down.
Global airport freight volumes down double digits vs 2021.
Trade finance, interest rates and consumer spending set to keep demand side pressure low.
Out to Q4 2023 and into 2024 the market may be somewhat uncertain, however there appears to be few reasons why freight-rates would rise appreciably.
Ti’s Air Freight Rate Tracker report provides an up to date view of rate expectations for the next year, quarter by quarter. Using current market data and surveys, the report tracks key metrics across demand, capacity, sentiment and cost leaders.
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