Freight traffic slows in August

INTERNATIONAL cargo traffic rose 19.6 per cent in August, compared with 23 per cent growth in July. This was three per cent above the pre-recession levels of early 2008.

During the first quarter, airfreight grew at an annualised rate of 25 per cent, but only 12 per cent for the first two months of the third quarter. With the restocking phase of the inventory cycle now complete growth rates are shifting back towards trend growth in world trade of around six per cent. Freight markets are still growing but at a significantly slower pace.

Freight capacity is matching demand trends, which are stabilising. Since December 2009, the freight volume expansion of 9.2 per cent has been matched by capacity expansion. After a rapid improvement throughout 2009, freight load factors have levelled off at 51 per cent.