LATAM Cargo Colombia launched regular scheduled service between Miami and Caracas on 3 May, opening a new corridor for US-Venezuela cargo flows. The carrier operates the route twice weekly on Sundays and Thursdays, offering 100 tonnes of total weekly capacity on the Miami-Caracas-Bogotá routing.
The service handles general cargo, courier shipments, pharmaceuticals and oversized freight. A dedicated commercial team has been established to adapt capacity to demand between the United States and Venezuela. LATAM Cargo Colombia positions the launch as evidence of rapid deployment capability in response to market needs.
Miami Hub Strategy Expands Coverage
The Caracas service strengthens Miami’s role as LATAM Cargo’s North American gateway. Andrés Varela, North America commercial director at LATAM Cargo Group, stated the company aims to be agile, present and solution-oriented. The carrier previously launched Miami-Panama-Bogotá and Miami-Cali routes in February with similar twice-weekly frequencies.
LATAM Cargo holds CEIV Pharma certification from IATA, making it the first airline in the Americas with this standard. The certification supports pharmaceutical shipments on the new Caracas route, which can accommodate temperature-sensitive products alongside standard cargo.
The carrier announced plans to convert up to eight Boeing 767-300ER passenger aircraft into freighters over three years, representing 80 percent capacity growth. The programme would expand LATAM’s freighter fleet from current levels to 15 aircraft in the first phase, with options for 19 total conversions if all agreements are executed.
Global Air Cargo Rates Hit 2026 Peak
Average worldwide air cargo rates reached $2.98 per kilogramme in week 13 of 2026, the highest level recorded this year, according to WorldACD data covering more than 500,000 weekly transactions. Jet fuel prices doubled since the Iran conflict outbreak in late February, replacing capacity constraints as the primary rate driver.
Global cargo tonnage remained flat week-on-week as returning capacity absorbed current demand. Four regions posted volume declines, with Middle East and South Asia down four percent and Africa also dropping four percent. Central and South America showed the only year-on-year growth at seven percent, whilst global volumes sat six percent below 2025 levels.
Spot rates from Middle East and South Asia to Europe climbed five percent week-on-week and 84 percent year-on-year. Dubai to Europe rates jumped 28 percent week-on-week to $5.44 per kilo. Dubai to the United States saw rates up 28 percent week-on-week to $10.33, representing a 152 percent year-on-year increase.
Asia Pacific to US rates rose nine percent week-on-week and eight percent year-on-year to $5.91 per kilo. China and South Korea to US routes posted 13 percent weekly gains, whilst Hong Kong to US jumped 12 percent. Forwarders tracking trans-Pacific rates face continued upward pressure as northern hemisphere summer schedules take effect.
LATAM Cargo Capacity and Perishables Performance
LATAM Cargo operates a fleet of 20 freighter aircraft during peak seasons, including the Chilean cherry export period. The carrier transported 7,546 tonnes of cherries from Chile in 2023, representing 32 percent growth over the previous year and 30 percent of Chile’s total air cherry volume.
The company’s FRESH product maintains controlled conditions for perishables from origin to destination, with 45-hour transit times from Santiago to China. LATAM operates 19 weekly frequencies from Santiago dedicated to cherry shipments during peak season, with 90 percent of volumes destined for Asia ahead of Chinese New Year.
LATAM’s Solidarity Plane programme completed transport of more than 100 million COVID-19 vaccine doses free of charge across Brazil, Chile, Ecuador and Peru. The initiative, operating for over 10 years, mobilised more than 2,400 health professionals and patients whilst transporting over 770 tonnes of medical cargo to more than 50 towns including remote areas.
Industry Perspective: Fuel Costs Replace Capacity as Rate Driver
The shift from capacity-driven to fuel-driven pricing marks a significant change in air cargo market dynamics. Whilst Middle East conflicts continue suppressing capacity 33 percent below year-ago levels, jet fuel costs doubling in four weeks have become the dominant factor in rate escalation. Carriers adding new routes like LATAM’s Caracas service face higher operating costs even as overall tonnage remains flat.
For forwarders managing Latin American cargo flows, LATAM’s network expansion provides additional routing options at a time when US-bound rates from Asia climb steadily. The 100-tonne weekly Caracas capacity may ease some pressure on Venezuela-US supply chains, though broader market fundamentals point to sustained rate increases through the northern hemisphere summer schedule period.
The combination of regional capacity additions and global rate pressures creates a challenging environment for cargo pricing. Forwarders require real-time rate comparison and multiple carrier options to protect margins whilst maintaining service levels for shippers.
Frequently Asked Questions
When did LATAM Cargo start flying to Caracas from Miami?
LATAM Cargo Colombia began regular scheduled service between Miami and Caracas on 3 May, operating twice weekly on Sundays and Thursdays with 100 tonnes of total weekly capacity on the Miami-Caracas-Bogotá route.
What types of cargo can LATAM handle on the Caracas route?
The service accommodates general cargo, courier shipments, pharmaceutical products and oversized freight. LATAM Cargo holds CEIV Pharma certification, the first airline in the Americas with this IATA standard for pharmaceutical handling.
Why are global air cargo rates increasing in 2026?
Jet fuel prices doubled since the Iran conflict began in late February, replacing capacity constraints as the primary driver of rate increases. Average global rates reached $2.98 per kilogramme in week 13, the highest level recorded in 2026.
How much capacity is LATAM Cargo adding with aircraft conversions?
LATAM plans to convert up to eight Boeing 767-300ER passenger aircraft into freighters over three years, representing 80 percent capacity growth. The programme would expand the fleet to 15 freighters initially, with options for 19 total conversions.
Which air cargo routes saw the biggest rate increases recently?
Dubai to US rates jumped 28 percent week-on-week to $10.33 per kilo, up 152 percent year-on-year. Middle East and South Asia to Europe spot rates climbed five percent weekly and 84 percent annually, whilst Asia Pacific to US routes rose nine percent week-on-week.
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