International air cargo demand, measured in freight tonne kilometres, rose by a 3.9 per cent in January compared to the same month last year, slightly boosted by the earlier timing of the Chinese New Year.
Offered freight capacity increased by 5.3 per cent, resulting in a 0.7 percentage point decrease in the average international freight load factor to 61.3 per cent, according to preliminary figures from the Association of Asia Pacific Airlines (AAPA).
Looking to the year ahead, AAPA director general Andrew Herdman warns of a challenging market environment plagued by sluggish international trade growth and the oversupply of capacity.
"The situation in the air cargo market remains quite difficult, with little evidence of any sustained pickup in demand given sluggish international trade growth, whilst freight rates remain pressured by an overhang of excess freighter capacity," Mr Herdman was quoted as saying in an Atlanta-area Air Cargo World report.
"Asian carriers face a number of headwinds, including recent stock market and currency volatility in emerging markets, and widespread competitive pressures holding down yields," he said.
Passenger traffic continues to outstrip the performance of the air cargo sector, with the region's airlines carrying 8.7 per cent more passengers in January year on year, according to Shipping Gazette.
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