06-Oct-2010 3:39 PM
Asian air cargo volume growth slowing
Analysis
Summary
- Hong Kong Cargo Terminal (HACTL) reported a 14% increase in air cargo throughput in September 2010.
- Import volume increased by 4.9% to 60,400 tonnes, while export volume increased by 16.8% to 136,700 tonnes.
- Trans-shipment volume also saw a significant increase of 19.0% to 44,900 tonnes.
- HACTL's three-month air cargo throughput ending in September 2010 increased by 19.9% to 743,700 tonnes.
- The growth numbers in Asia Pacific and the Middle East, which account for half of the international air freight market, could indicate a potential slowing of trade.
- Asian airport stocks experienced mixed performance, with Beijing Capital and Malaysia Airports declining, while Japan Airport Terminal and Shanghai Airport saw gains.
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%;
- Air cargo: 242,000 tonnes, +14.0% year-on-year;
- 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%.
- Air cargo: 743,700 tonnes, +19.9%;
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
Source: Centre for Asia Pacific Aviation & Yahoo! Finance