Published:
Asia Pac carriers posted weakest freight demand
Demand dropped 7.3% in the first 8 months of the year.
According to OCBC Investment Resdearch, the industry-wide difficulties surrounding cargo trafficremains with Asia-Pacific carriers experiencing the greatest drop-off in freight demand given their 38.8% share of global traffic.
"For the first eight months of the year, the Asia-Pacific freight market saw a 7.3% YoY drop in demand outpacing a 2.6% decline in capacity (versus a 2.6% drop in demand and a 1.5% increase in capacity for the industry)," it said in a report.
When compared to the region, SIA Cargo revealed similarfigures with cargo traffic lower by 4.1% on a 1.9% reduction in capacity.
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