Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Monthly Air Cargo Tracker | April Data Shows Slowing Demand, Low (And Falling) Capacity Utilization

Monthly Air Cargo Tracker | May-July Data Shows Soft Demand, Ample Capacity, Lower Yields

Monthly Air Cargo Tracker | August Shows Pockets of Growth | But LF, Pricing Both Still Very Weak

Growth of SHEIN, Temu Appears to Be Boosting Asia-US Air Cargo Volume & Pricing

Quick Update on Asian Air Cargo Trends: No Signs of Market Tightness in These Numbers

Monthly Air Cargo Tracker | January: Soft Demand, Low LFs | Ocean Growth > Air Growth (March 2025)

Monthly Air Cargo Tracker | Inaugural Edition | Low Cargo Load Factors and Moderating Demand Growth

Monthly Container Shipping Tracker: December Respite Likely Short-Lived | Stay SHORT (January 2025)

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Equity Bottom-Up

<ul>
<li>Even before US tariff and <em>de minimis</em> changes, Asian air cargo conditions had turned weaker</li>
<li>Carrier load factors were up seasonally in March, but down Y/Y, and remain quite low</li>
<li>Data from Taiwanese carriers suggests shift away from Transpacific to short-haul routes</li>
</ul>


Even before US tariff and de minimis changes, Asian air cargo conditions had turned weaker
Carrier load factors were up seasonally in March, but down Y/Y, and remain quite low
Data from Taiwanese carriers suggests shift away from Transpacific to short-haul routes


Monthly Air Cargo Tracker | Even Before US Tariff Chaos, Conditions Had Turned Weaker (May 2025)

Eva Airways

Monthly Air Cargo Tracker | Even Before US Tariff Chaos, Conditions Had Turned Weaker (May 2025)