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Logistics News with TELS GLOBAL
The World Bank and IMF chiefs warned of the increasing risk of a global recession
There could be a risk of recession for the world economy next year, World Bank President David Malpass said at a joint discussion with International Monetary Fund (IMF) Managing Director Kristalina Georgieva, Reuters reports. Gergieva agreed with him.
EU business activity likely to endure recession
Business activity in the eurozone continues to decline - the S&P Global’s final composite index PMI fell to a 20-month low of 48.2 in September from August’s 48.9.
Strike action at oil refineries in France threatens supply chains
Weeks-long strikes by the fuel trade unions in France are leading to chaos throughout the country. Carriers are warning of supply chain disruptions, especially when it comes to transporting fresh produce.
Spot rates and contract rates are formed almost independently of each other
The dynamic drop in the spot container market has not yet strongly impacted the contract market. The value of the XSI long-term container freight rate index decreased in September by only 1.1%, while the Drewry WCI composite spot index fell by a third over the month.
International road freight rate forecast for 2023-25
The Marketing Department of TELS GLOBAL has made a forecast for FTL road freight rates to/from/within the EU for the period 2023-25. The report states that forecasting amid the current global crisis is too imprecise.
New Spain-UK rail freight service for temperature sensitive cargo
Maersk launches new Spain-UK rail freight service for transport of fresh produce.
Shipping goods from China to Europe takes 3 months on average
The period of 94 days is the average time for shipping goods by sea from China to Europe. The pre-pandemic average transport time was around 60 days.
Foreign transport business “invades” Europe
The influx of foreign entrepreneurs in Europe began in May, and every month there are more and more drivers and transport companies from abroad. 95% of entrepreneurs who have set up their businesses in Europe developed the transport industry in their homeland.
Container freight rates are falling, but what will be the floor?
The Clarksons charter rate index is currently 246 points, remaining more than four times the 2019 average. However, the index dropped 26% week-on-week last week.
Deutsche Bank says it now expects a ‘longer and deeper’ recession in Europe
Deutsche Bank’s economists argued their previous prediction for a “mild recession” in Europe is no longer valid as the energy crisis has worsened substantially since July.
Germany ranks second in the world and first in Europe in terms of cargo thefts
The latest analysis of cargo crime across the Europe, Middle East & Africa (EMEA) region by the Transported Asset Protection Association (TAPA) has found that a large majority of losses from supply chains is concentrated in 10 countries.
Container fleet capacity up 30% in 2025 compared to the pre-pandemic levels
According to Clarksons, the container ship orderbook began to grow rapidly in the second half of 2020, and by mid-2022 it was close to 900 vessels with a capacity of more than 7 million TEUs.
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.