Air cargo growth to start 2024 less than meets the eye

News Snapshot:

Air cargo volume growth at the end of 2023 has carried over into a normally quiet shipping period for reasons that include retailers finally rebuilding inventories, an early Chinese New Year, flower demand for Valentine’s Day and longer ocean transits as vessels avoid the Red Sea shortcut from Asia because of rebel attacks. Demand grew more than 10% year over year (y/y) in January, when shipment activity usually dies down from the year-end holiday rush, according to researchers Xeneta and WorldACD. During the first week of February, tonnage and rates continued to inch forward, other data providers reported. But demand...