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Logistics News with TELS GLOBAL
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The increasing trend in purchases and sales in port infrastructure
PwC does stress that some European destinations remain attractive, as evidenced by MSC’s entry into the Hamburg port operator HHLA. However, overall, the importance of the Asian trading area is growing while Europe’s importance is diminishing.
Asia-Europe container shipping rates fell by 20 to 25% over the month
The increase in the voyage duration, which used to go through the Suez Canal, and now are going around Africa, has not solved the problem of excessive supply in the world container shipping market.
13 road transport organisations against Austria
Organisations from all over Europe, including Austria, stress that the number of unilateral transit restrictions introduced by the Austrian government has been steadily increasing for years.
New Saudi feeder service launched in Red Sea
The company’s maiden fleet includes two 2,500-TEU feeder units plying between Saudi Arabia, Jordan, and Egypt, alongside a 750-TEU vessel serving Sudan from Jeddah.
Polish farmers plan to protest until April 30
Farmers in Poland have been protesting for many weeks. They occasionally impede traffic on highways by bringing agricultural equipment and block the traffic at crosswalks.
EU transport industry has shrunk, yet there are promising forecasts
The Transport Intelligence analysts expect a compound annual growth rate of 1.7% between 2023 and 2027.
German government does not hope for a swift rebound
The German government expects the economy to grow 0.2% this year, far less than a previously forecast 1.3%, as weak global demand, geopolitical uncertainty, and persistently high inflation dent hopes for a swift rebound.
Turnover of Europe’s largest container port dropped by 7% in 2023
In comparison with 2021, prior to the escalation of the Ukrainian crisis and the strengthening of the sanctions regime with regard to Russia, which affected the European economy, the port lost 12% or almost 2 million TEUs of annual turnover.
EU Commission cuts 2024 euro zone growth forecast
According to the EU Commission’s forecasts, the gross domestic product in the 20 countries sharing the euro currency will increase only 0.8% in 2024 rather than 1.2% it expected last November, but it will still be up from a 0.5% rise in 2023.
Maersk will refrain from routes in the Red Sea, possibly until the third quarter
The delivery time of goods shipped from Asia to Europe has increased by 10–15 days due to attacks in the Red Sea, and the cost of shipping has increased by 400%.
OECD: Global GDP growth is expected to slow, forecasts are lowered for the euro zone
The growth of the global GDP will slow to 2.9% in 2024 from 3.1% recorded at the end of 2023. In 2025, the growth will reach 3%.
Road freight in Europe: contract rates rise while spot rates fall
According to the latest comparative report on the progression of road freight rates in Europe by the analysts at Transport Intelligence and Upply, the spot rates in Europe continued to fall below the contracted levels in the fourth quarter of 2023.
The world's largest port of Shanghai increased container transshipment by 18% in January
The demand for maritime container transportation last year was 0.3% higher than a year earlier, following a decline of more than 4% in 2022.
Significant decline in rail transportation between the EU and China
The PRC is likely to lose its status as Germany’s main trading partner in 2024, which it has consistently held since 2016.
Red Sea crisis boosts interest in air transportation
The disruptions in supply chains caused by the Red Sea crisis are forcing companies to increasingly seek alternative transportation options from Asia to Europe.
Europe barely escaped a technical recession at the end of 2023
The EU economy struggled to escape a technical recession in the last three months of 2023. The decline in the German GDP was offset by a strong GDP growth in Portugal and Spain, as well as the strengthening indicator in Italy.
Land bridges bypassing the Red Sea
Hapag-Lloyd, German Shipping Company, has introduced an overland route through the UAE and Saudi Arabia to avoid facing the Houthis in the Gulf of Aden and Bab el-Mandeb.
Marine carriers announced the latest increase of rates in February
From the beginning of crisis to the mid-December the cost of container delivery from Asia to Europe increased 3.5 times, to the North America – twice.
Global trade declines, yet regional trade grows
The fragmentation of economies is simultaneously leading to a revival of industrial policy, the WEF survey suggests. This strategy may lead to new points of economic growth and new industries.