Latest WorldACD figures show Hong Kong-Europe volumes surged 29% week-on-week in early October, while China-Europe flows gained 6%
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Air cargo volumes from China and Hong Kong to Europe bounced back quickly following September’s Super Typhoon Ragasa, but demand patterns to the US were “less clear”, according to data provider WorldACD.
The latest weekly roundup from the company shows that volumes from Hong Kong increased by 29% week on week in the week running to 5 October (week 40), following a 19% decline the previous week as a result of flight cancellations caused by the typhoon.
From China to Europe, volumes were up 6% week on week after declines of 2% and 3% in the preceding week.
The cancellations particularly affected flights from Hong Kong, Taiwan and southeast China, according to WorldACD.
The increase in demand is unusual for the week as volumes tend to decline in week 40 as a result of the Golden Week national holiday that begins at the start of October.
This year, overall volumes out of Asia Pacific in week 40 actually increased by 1% as the market played catch up, while last year there was a 7% decline week on week.
However, WorldACD said the market from China and Hong Kong to the US remained “less clear”.
"The patterns from China and Hong Kong to the US were less clear, as has been the case for several months, with tonnages from China to the US falling a further 2% in week 40," WorldACD said. "But volumes from Hong Kong partially rebounded with a 7% week-on-week increase after losing 15% the previous week, in what has remained a relatively volatile market."
Volumes from Hong Kong to the US also continue to be affected by the US decision to end the de minimis exemption for low-value packages. Tonnages from Hong Kong to the US "remain well down" (16%) on the equivalent period in 2024.
Tonnages from Japan and South Korea are also down on last year at declines of 14% and 32% year on year respectively.
On the other hand, volumes from Asia Pacific as a whole to the US are on the rise compared with last year, up 7%. Thanks to huge year-on-year increases in volumes from Taiwan (62%), Vietnam (50%), Thailand (63%), and Malaysia (34%).
