The extent of the air cargo market's move away from bellyhold capacity in favour of freighters and the affect on rates have been highlighted in new statistics from WorldACD.
Figures from the data provider show that from key markets, belly capacity decreased by an average of 51% year on year in 2020, while freighter capacity was up by 6%.
This was, of course, the result of passenger services being grounded by a covid-19 related travel slump.
Some of this difference was offset by lower demand, down by around 15% compared with the previous year, but it was not enough to stop rates increasing by 66% for general cargo, 46% for special cargo and 43% for express cargo.
Meanwhile, larger forwarders appeared to lose market share and GSAs made gains.
The post WorldACD figures highlight a changing air cargo market in 2020 appeared first on Air Cargo News.