Global jet fuel demand growth slowing amid weaker freight,passenger demand

摘要

Global demand growth for jet fuel is falling due to weaker freight and passenger movements stemming from a slowdown in the global economy.According to data from the International Air Transport Association(IATA)global air freight demand in May fell by 3.4% from May 2018 levels due to a slowdown in movements in Asia-Pacific,specifically Singapore.May marked the seventh consecutive month global air freight demand saw a year-on-year decline.A European jet fuel trading source remarked,”It's a worrying trend.Cargo [air freight] tends to be the canary in the coal mine in the airline industry.If freight rates go down,it's usually indicative of what is to come for the industry as a whole.”