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Logistics News with TELS GLOBAL
While China’s GDP grows, its trade with key partners declines
At the end of the nine months of 2023, the country’s GDP has reached 91.3 trillion yuan ($12.7 trillion), which is 5.2 percent higher than during the same period in 2022.
Turkey as a promising destination country for economic ties
Turkey has extensive production and a wide range of commodity items, from industrial equipment to agricultural products.
Air transportation market increased for the first time in 19 months
In August, the global airfreight indicators, as measured in cargo tonne kilometer, increased by 1.5% year-on-year. For international flights, it amounted to 2%.
IMF and WTO updated global economic and trade forecasts
The World Trade Organization (WTO) economists have lowered their forecast for growth in the global trade in goods in 2023 from 1.7% to 0.8%.
Global container market demonstrates growth
Despite falling rates for container shipping, the volume of the global container market is still high. In monthly dynamics of 2023, the volumes keep growing everywhere, except Europe.
E-commerce in Germany declined for the first time in 15 years
For the past year, 1,000 B2C online stores with the highest sales rates, which represent the majority of all B2C online stores, recorded a 2.8% decline in sales in Germany.
The cost gap between sea and air transport has increased almost 17-fold
The widening gap is due to the fact that sea freight rates are currently only 7% higher than 2019, while air freight rates remain more than a third higher than before the crisis and are not going to decrease.
TELS GLOBAL: consolidated cargo from Europe to Kazakhstan
In connection with current world processes, many production and trading companies are actively reorienting to the Kazakhstan market. And, unfortunately, not many people know about our capabilities to deliver consolidated cargo from Europe.
Cargo hijackers are targeting electronics and pharmaceuticals
The share of electronic equipment in stolen goods increased from 12% to 19% during the analyzed period. Chemical and pharmaceutical products increased their share between 2017 and 2022, from 3% to 7%.
Decrease in global oil inventories pushes prices higher
After a slight decline, oil prices in many countries are headed up again. The global distillate inventories are now much lower than usual for this time of the year.
Container shipping rates from Asia to Europe dropped drastically in September
The cost of delivering a 40-foot container to ports in both Northern and Southern Europe decreased in price by more than $300 during the two weeks of September.
Spot rates for road transportation in Europe became lower than contract rates
That said, road freight prices in Europe remain on average 12–15% higher than prior to the pandemic...
Charter rates for container vessels continue to decline
The time charter rates for container vessels continue to decline. On average, time charter rates are now 15–20% lower compared to the end of last year.
World economy will continue to decelerate, and China will not help
The economic slowdown is related to three main factors: persistent high interest rates, tensions in the financial sector, and the slowing growth in China.
Air cargo market steadily recovers
In July 2023, the global civil aviation cargo turnover was close to the previous year’s level: according to the International Air Transport Association (IATA), the decline had amounted to only 0.8% by July 2022, with a 0.4% decrease in the international cargo segment.
Increase in container shipping rates is now compensated by large discounts
Lines are offering cargo owners a rate for shipping a 40-foot container from China to Antwerp, Rotterdam and Hamburg below $1,000 for October.
Trucks in Sweden were allowed to increase their length by 9 meters
Other EU countries begin to pay attention to this practice. In particular, the issue of increasing standards is being addressed by Poland.
Global contract logistics market will be growing but not fast
By the end of 2023, the global contract logistics market will generate more than EUR 284.458 billion and the sector will grow by 3.8%. In 2022, the growth reached 2.9%. The current analysis presented in June by Transport Intelligence (TI), a UK-based think tank, indicates a significant decline in the dynamics compared to 2021, when the sector, powered by e-commerce, added 8.7% in value.
Electric heavy-duty trucks are overall more eco-friendly, but not everywhere
Grid-charged heavy-duty trucks in Poland produce 10% more emissions than diesel trucks.
Traffic fines in Hungary to increase by 30%
The increase in the traffic fines in Hungary as of September 1 applies to almost every aspect, from speeding to driving and weight and dimensional violations.