Based on the data for over 1.5 million shipments, August showed a year-over-year (YoY) drop of 17.2% in worldwide volume and of 29% in shipments carried, but a YoY increase in revenues (USD) of 37%, thanks to rates in USD that were 65% higher than the year before (2.83 vs 1.71).
YoY, the origin region Asia Pacific lost least volume (-10%), whilst the origins Europe and MESA (Middle East & South Asia) lost most (-25% resp. -22%). North America was – not for the first time – the one region that could not compensate the YoY loss of volume with a sufficient rate hike.
But month-over-month (MoM), revenues from North America went up just slightly (+0.3%) whilst worldwide revenues dropped by -1.4% MoM. Preliminary figures for the first half of September indicate that volume remains at -17% YoY. Taking a first look at yields in this period, they look stable so far at USD 2.83, the same as in August.