06-Oct-2010 3:39 PM

Asian air cargo volume growth slowing

Analysis

Hong Kong Cargo Terminal (HACTL) reported a 14% increase in air cargo throughput last month to 242,000 tonnes, representing an easing from the 17.5% expansion in Aug-2010 and 30%+ expansion in the year to date.

HACTL's latest traffic highlights are as follows:

Sep-2010:

- Air cargo: 242,000 tonnes, +14.0% year-on-year;
  - Import volume: 60,400 tonnes, +4.9%;
  - Export volume: 136,700 tonnes, +16.8%;
  - Trans-shipment volume: 44,900 tonnes, +19.0%;
Three months ended 30-Sep-2010:
- Air cargo: 743,700 tonnes, +19.9%;
  - Import volume: 188,900 tonnes, +11.8%;
  - Export volume: 412,500 tonnes, +25.7%;
  - Trans-shipment volume: 142,100 tonnes, +15.6%.

ACI stated earlier this week: "The relatively moderate [growth] numbers in Asia Pacific and the Middle East, which account for half of the international air freight market, could point to further slowing of trade." See related report: Further softening of airport traffic growth rates expected: ACI

Asian airport stocks were mixed yesterday, with Beijing Capital dropping 1.4%, Malaysia Airports 1% lower, Japan Airport Terminal 0.6% higher and Shanghai Airport up 1.9%.

Selected airports daily share price movements (% change): 05-Oct-2010

Asian air cargo volume growth slowing

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