Xeneta: Global air cargo volumes up 6% in September as shippers move to shorter contracts
Xeneta says global air cargo volumes grew 6% year on year in September, and more shippers are choosing shorter contracts and floating rates. China–Europe e-commerce flows remain weak after the EU introduced a charge on low-value parcels.
- Global air cargo volumes rose 6% year on year in September, according to Xeneta, continuing the growth seen in July and August.
- Shippers are moving toward shorter contract terms and floating-rate pricing.
- China–Europe air e-commerce is still weak after the EU introduced a charge on low-value parcels in July.
Global air cargo demand kept growing in September. Market intelligence firm Xeneta reported a 6% year-on-year rise in worldwide air freight volumes for the month, the third month in a row of growth after July and August. Xeneta published its monthly market update on 1 October.
Shorter contracts and floating rates
According to Xeneta, a key theme for the month was how shippers are buying air freight. More of them are choosing shorter contract periods and floating-rate mechanisms instead of fixed rates for long periods. Xeneta also reported rate increases on major air freight corridors in September. With a floating rate, the contract price is usually linked to a market reference and adjusted at set intervals. This lets buyers follow the market up or down instead of locking in one price for the whole contract.
China–Europe e-commerce remains under pressure
Xeneta's update also points to a 40% fall in China–Europe e-commerce exports. This matches earlier data from consultancy Aevean, published in late September. Aevean found that Chinese air e-commerce exports fell 16% by weight year on year in August, mainly because China–Europe volumes dropped 40%. Aevean linked the decline to the EU's €3 charge on parcels worth less than €150, which started at the beginning of July.
The weakness in e-commerce has made the China–US and China–Europe air markets move further apart. Xeneta noted that the gap between spot rates on the two corridors grew wider after the EU duty took effect.
What this means for shippers
- Overall demand is still growing heading into the fourth quarter, so shippers moving general cargo from Asia to Europe should confirm space and rates early. This is especially true around peak periods.
- Shippers renewing air freight contracts may want to compare fixed and index-linked (floating) options. Shorter terms limit the risk of being locked into a price that no longer reflects the market.
- Less e-commerce cargo from China to Europe may free up some capacity on that corridor. The effect will vary by origin airport and carrier, so check routing-specific quotes rather than relying on global averages.