The latest figures from analyst WorldACD show that cargo volumes declined on a year earlier for the twelfth month in a row in October.
WorldACD said the industry as a whole saw total chargeable weight decline by 5% year on year during the month, with general cargo slipping by 8.2% on a year earlier.
In contrast, special cargo increased by 2% year on year led by high tech & other valuable goods, which was up by 13%, and pharma & temperature controlled goods increased by 8%.
Perishables in total declined by 1% in October: fish & seafood was the best performing sub-segment as it increased by 6%, while flowers was down by 3%.
US dollar yields decreased by 11%, while revenues were 16% lower. Of all origin regions, Latin America was hit hardest with a year-on-year volume decrease of 10% while Africa remained stable.
"The build-up towards the end-of-year peak is not very different from last year: October was 7% higher than September, which is the same MoM growth as in 2018," WorldACD said.
"Of the Top-20 origin cities in the world, only two showed a year-on-year volume increase in October, and both are in China: Guangzhou (+16%) and Shanghai (+3%).
"Some ‘smaller’ origins in Asia Pacific also recorded positive results: Shenzhen +58%, Zhengzhou +19%, Ho Chi Minh City +7%; and we noted double digit growth from Perth (+22%)."
