According to The Loadstar, Asia’s air cargo export market is entering peak season with starkly divergent performance: robust AI hardware demand is driving transpacific volumes upward, while new EU import rules are suppressing Asia–Europe flows.
AI-Driven Export Surge in Taiwan
Taiwan’s export orders hit a monthly record of $97.94bn in July 2026, surging 61.9% year on year. Orders from the US alone jumped 88.9%, reaching $40.79bn — the largest monthly increase on record. Information and communications technology product orders rose 89.5%, with server and cooling-system demand exceeding expectations, according to Taiwan’s Ministry of Economic Affairs.
Actual exports followed closely: July shipments totaled $75.3bn, up 32.9% year on year. Electronic components rose 50.5%, and integrated circuits surged 52.3%. This tech-driven expansion is directly translating into airfreight demand, as time-sensitive data-center construction schedules require rapid movement of high-value hardware.
Divergent Transpacific and Asia–Europe Trajectories
WorldACD data shows combined China and Hong Kong air cargo volumes to the US rose 13% year on year in August, while volumes to Europe fell 14%. Hong Kong–Europe tonnage declined 30% year on year and was 24% below its June level — a drop linked to the EU’s 1 July termination of its €150 de minimis duty exemption and introduction of a €3 charge on low-value imports.
Spot rate differentials reflect this split: China/Hong Kong–Europe rates fell from $5.22 per kg in May–June to $4.34 in August — a 17% decline. Their year-on-year premium narrowed from 32% in May to just 11% in August. By contrast, China/Hong Kong–US rates dipped from $6.59 to $5.89 per kg (11% drop), yet remained 26% above last year’s level.
Fuel Surcharges Climb Amid Jet Fuel Price Spikes
Cathay Pacific’s long-haul cargo fuel surcharge from Hong Kong rose from HK$6.70 per kg in late July to HK$10.10 in early August, then to HK$10.60, and finally to HK$11.20 for the first half of September. This surge tracks sharp increases in jet fuel prices, which rose 8.2% during August and were 74.2% higher year on year by 28 August, according to the TAC Index.
Capacity Expansion Underway Across Carriers
Afcom Holdings, an Indian cargo operator, has issued a letter of intent for up to four Boeing 777-8F freighters — a major step beyond its current fleet of 737-800 freighters. Meanwhile, Ethiopian Airlines is finalising an order for as many as ten 777 freighters, including two 777-200Fs and eight 777-8Fs; it already operates 12 -200Fs and has agreed to lease two converted 777-300ERSFs from AerCap for delivery in 2028.
More immediate capacity is returning: MD-11Fs are re-entering service at FedEx and Western Global Airlines, and the first Mammoth Freighters 777-200LRMF conversion has been delivered for operation by DHL. The latest Freightos Air Index shows China–North America rates rose 5% last week to $6.30 per kg, while China–North Europe rates increased 6% to $4.88 per kg.
Source: The Loadstar
Compiled from international media by the SCI.AI editorial team.
