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Logistics News with TELS GLOBAL
Driver shortage up 40% in Europe in 2022
According to the latest IRU report, up to 425,000 truck driver vacancies remained unfilled in Europe in 2021. In 2021, the number of such vacancies increased by 41% compared to 2020.
Moody’s lowers global GDP growth forecast for 2022-23
Moody’s estimates that global GDP will grow by 2.5% in 2022 and 2.1% in 2023. The agency has previously expected the figure to rise by 3.1% in 2022 and 2.9% in 2023.
Airlines cancel flights until spring
Staff shortages, strikes, and general traffic chaos have forced many carriers to cut scheduled flights.
Economic indicators in the Eurozone show negative growth
In August, the euro area’s economic sentiment indicator (ESI) decreased to 97.6 points. Back in June, the indicators for both the euro area and the EU countries were positive (103.5 and 101.8 points), at the beginning of the year the indicator values exceeded 112 points.
The largest ports in Europe reduced container turnover, except for Hamburg
The total container turnover of the four main ports of Northern Europe - Antwerp-Bruges, Rotterdam, Bremen/Bremerhaven, and Hamburg - for the first six months was 4.6% lower than the same period last year.
Strong Global Air Travel Recovery
The global air passenger market (measured in revenue passenger kilometers, RPK) rose by 76.2% in year-on-year (YoY) terms in June, according to a press release issued by the International Air Transport Association.
CTS Reports a Positive Change in Global Container Market Dynamics
According to the Container Trade Statistics data, the global container market has turned towards positive demand dynamics, mainly due to the growth in container traffic in Asia.
Slowdown in global shipping container demand, marine carriers’ revenue continue to grow
The global container shipping market volume for the second quarter decreased by 2.3% compared to the second quarter of 2021. Geopolitical uncertainty and higher inflation via higher energy prices continue to weigh on consumer sentiment.
Euro-Zone Recession Is Now More Likely Than Not
The risk of a euro-area recession has reached the highest level since November 2020 as energy shortages threaten to drive already record inflation higher still, according to economists polled by Bloomberg.
Shipping operations around Taiwan destabilized
China’s military drills around Taiwan in response to US House Speaker Nancy Pelosi’s visit to the island are threatening to disrupt maritime and air transportation in the region. Shippers expect delays due to re-routing and higher shipping costs.
Economic crisis may evolve into a global recession in 2023
The head of the International Monetary Fund said that outlook for the global economy had “darkened significantly” since April, and she couldn’t exclude a possible global recession next year.
European flights cancelled amid shortages of manpower
European airports have recorded a record number of flight cancellations. The main reason, according to the airlines, is personnel shortage: tens of thousands of workers engaged in the airline industry were dismissed during the coronavirus pandemic, and now these vacancies are difficult to fill.
European companies consider shifting out of China
Nearly one in four European companies in China are considering shifting their investments out of the country and redirecting them to other countries – Bloomberg reports, citing data from a survey conducted by the EU Chamber of Commerce.
Long-term ocean freight rates set new records
Despite a significant decline in spot container shipping rates (already below the last year’s level according to the Drewry index), long-term contracted ocean freight rates have been breaking records for four consecutive months and, according to Xeneta analytical agency, increased by 10% in June compared to May.
Polish and German Industries Reduce Demand for Logistics
The PMI in the Polish industry fell from 52.4 points in April to 48.5 points in May and continued to drop in June lowering to 44.4 points. In comparison, in June 2021 this indicator was at the record high level of 59.4 points.
Strikes All Over the World Worsen a Supply Chain Crisis
If employers and trade unions on several continents fail to agree at the earliest possible time, a wave of strikes could worsen a supply chain crisis.
Spot Freight Rates from Asia Have Dropped Below 2021 Levels
According to Drewry World Container Index, container freight rates from Asia to the leading consumer markets in Europe and North America continue to decline and are already lower than a year ago.
France: 20 industrial sites blocked as striking truckers
Professional drivers throughout France began a strike today for higher wages and better working conditions. According to Le Parisien, twenty industrial sites were already blocked by dawn.
Global Demand for Container Shipping Is Weak, Yet the Rates Are Getting Higher
Container Trade Statistics (CTS) estimates that global container shipping demand in April 2022 is 14.3 million TEUs, which is 4% lower than in April 2021 and only 1.5% higher than the pre-pandemic level of April 2019.
Air Cargo Market Declines Steadily
The most recent data published by the International Air Transport Association (IATA) indicates that the demand for air freight services decreased by 11.2% in April 2022 compared to April 2021, and international traffic volumes were 10.6% lower than a year earlier.