The decline in air cargo between China and Europe hampers global growth in July.

Air cargo tonnages from China and Hong Kong to Europe have declined for six consecutive weeks, significantly impacting global air cargo growth in July. New EU import regulations have increased costs and complexities, leading to a 5% weekly drop in cargo from mainland China and a 3% decline from Hong Kong. Overall, July saw a 19% decrease in tonnages from Hong Kong and a 3% drop from China compared to June. Despite some year-on-year rate increases, spot rates have fallen, reflecting broader market trends. Worldwide air cargo grew by 2% from June, but growth rates have slowed.