Global loads rebounded 6% after a holiday lull in Asia

• Global air cargo volumes rose 6 percent week-on-week in week 42 (October 13-19, 2025), according to WorldACD global market data.
• The recovery follows a seasonal slowdown due to public holidays across Asia, and was driven by a 14 percent week-on-week increase in tonnage from Asia Pacific.
• Spot and contract rates also improved, with notable growth on China-US airlines driven by front-loading ahead of expected tariff changes.

Global air cargo tons rebounded with a 6 percent increase week-on-week in week 42 (October 13-19), according to the latest weekly figures from WorldACD Market Data, driven by a strong rebound in traffic from Asia-Pacific origins following the end of the Golden Week holiday period in China and other holidays in Asia.

After a 3% decline in the previous week due to the Mid-Autumn Festival in China and national holidays in Taiwan and South Korea, this recovery was stronger than in the same week last year. Loads from the Asia-Pacific region rose 14 percent week-on-week after falling 9 percent previously, leaving them 8 percent higher than in week 42 last year.

Excluding this rise in the Asia-Pacific region, tonnage growth worldwide will be only 1 percent.

Average global prices also returned to pre-holiday levels, registering a 3 percent increase week-on-week to US$2.48 per kilogram, mainly due to a 2 percent increase in origin prices in the Asia-Pacific region and an increased share of high-yield goods. Although this is slightly above late September levels ($2.45), it remains 4 percent lower than in week 42 last year.

Spot prices followed a similar trend, increasing 2 percent week-on-week to US$2.66 per kilo, although declining 3 percent year-on-year.

Asian recovery dominates market movement

Loadings from Asia Pacific to the United States rose 17 percent week-on-week, with an exceptional recovery from:

• China: +24 percent

• Hong Kong: +22 percent

• Taiwan: +24 percent

• South Korea: +96 percent

South Korea’s sharp rise comes on the heels of the Chuseok (October 5-8) and Hangul Day (October 9) holidays.

Loadings from Asia Pacific to Europe also rose by 14 percent on a weekly basis.

For China and Hong Kong, volumes to the US remain below 2024 levels, while volumes to Europe are now higher – reflecting a shift in e-commerce flows due to the removal of minimum exemptions for low-value US imports from China.

Spot interest rates between China and the United States reached their highest level in six months

After falling 4 percent the previous week, spot interest rates from the Asia-Pacific region to the United States rose 7 percent week-on-week in week 42. The highest jumps were from:

These increases indicate a tightening of capacity, likely due to shippers pre-loading ahead of new tariffs on US imports expected next month.

India and US are hot amid tariff and holiday pressures

The US Indo market continues to witness volatility. After two weeks of decline, loads rebounded 13 percent week-on-week in week 42, ahead of Diwali (October 20-21), putting the route 2 percent higher year-on-year.

Traffic between India and Europe also saw a weekly increase of 9 percent, reaching 11 percent compared to the same week in 2024.