Air cargo experienced a seasonal peak in Q4, but recent data from WorldACD Market Data indicates a slight decline in tonnages and spot rates in December. Average spot rates from Asia Pacific fell about four percent, while rates from North America and the Middle East rose, resulting in a global one percent dip. Year-on-year, global spot rates were up by 16 percent, driven mainly by increases from the Middle East, Asia Pacific, and Europe. Overall, worldwide tonnages decreased by one percent, with significant drops from Asia-Pacific and MESA origins.

Source: https://www.stattimes.com/air-cargo/tonnages-and-rates-begin-dropping-after-strong-q4-peak-1354041