The International Air Transport Association (IATA) recently released data for world air freight markets showing that demand, measured in freight tonne kilometers (FTKs), rose 6.8% in November 2016 compared to the previous year. This was a slight slowdown from the 8.4% annual growth recorded in October 2016, but was still more than 2.5 times the average annual monthly growth rate of 2.6% over the past decade.
Growth in freight capacity, measured in available freight tonne kilometers (AFTKs), reduced to 4.4% November.
The increase in freight growth coincides with an increase in the shipment of silicon materials ususally used in high-value consumer electronics shipped by air, and an apparent boost in new export orders. A shift from shipping to air cargo following the collapse of the Hanjin Shipping Company in August may have also contributed.
