In its most recent weekly market data analysis, Xeneta, a platform specializing in ocean and air freight rate benchmarking and market analytics, suggests that the global air cargo industry may experience a new economic growth cycle in 2024. The industry concluded the previous year with a notable +9% year-on-year increase in demand, leading to the highest air cargo spot rate in nine months. Niall van de Wouw, Chief Airfreight Officer at Xeneta, acknowledges that while terming 2024 a ‘new dawn’ might be overly optimistic, it indeed marks the beginning of a fresh cycle for airlines, forwarders, and shippers. The anticipated stability in the market is expected to enable shippers to make more accurate predictions regarding transportation costs for their products.
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