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Logistics News with TELS GLOBAL
The year of 2023 to be “extremely challenging” for ocean shipping market
Sea and air freight analyst Xeneta predicts that 2023 will be “extremely challenging” for the ocean shipping market and “turbulent” for the air shipping market. The sea freight volume will be reduced by about 2.5%.
European rail carriers will raise rates by 20-50%
According to the Wirtschaftswoche German magazine, the DB Cargo, freight transport division of German national railway operator Deutsche Bahn, began to notify its customers in mid-November of an increase in rail freight rates starting from January 1, 2023.
ESG reporting will become mandatory for a wide range of companies in the EU
The European Parliament has adopted the Corporate Sustainability Reporting Directive (CSRD), which will oblige a wider range of EU companies to disclose data on the social and environmental impacts of their activities.
The global economy will slow down, but with a different pace
Global economic growth will continue to slow down not only this year, but also next year, according to the Organization for Economic Co-operation and Development (OECD) Economic Outlook for 2023-24.
Border Controls Between EU Countries Are Being Reintroduced
A few weeks after the extension of the current border controls on the border with Slovakia, the Austrian Federal Ministry of the Interior announced the reintroduction of controls at the border checkpoints with other countries.
Air Cargo Spot Rates Keep Falling With No Peak Season In Site
According to Xeneta, air cargo spot rates in October were on average 20% lower YoY, but so far remain twice as high as in the pre-corona crisis 2019 year.
Road Freight Transport in Europe: Multidirectional Pressure on Road Freight Rates
Road freight rates in Europe hit all-time high, but their growth slowed sharply in Q3, according to the European Road Freight Rates Benchmark Report, produced by Transport Intelligence and Upply.
The Surplus of Empty Shipping Containers Causing Container Prices Falling
The sagging demand for container shipping and the equipment turnover acceleration have resulted in the release of a significant share of the fleet and a container surplus.
The Global Economy to Suffer Worse Blow Than Thought in October
The International Monetary Fund (IMF), which lowered its global growth forecast for 2023 from 2.9% to 2.7% in October, said that this figure could be reduced again in the future.
Energy Crisis Causes German Businesses Fleeing to the US
The energy crisis affects almost all branches of the German economy. About 82% of the 24,000 businesses surveyed view energy and raw material prices as a huge business risk and threat to business.
Maersk predicts a 2-4% contraction of the container shipping market in 2022
In its Q3 report, Maersk notes global container demand falling. High inflation and a slowdown in business activity led to a decrease in imports from Asia to Europe over the last quarter by 6.0% year-on-year.
Industry pessimism in Germany, Poland, and the Eurozone intensifies
The S&P Global Eurozone Manufacturing PMI fell to 46.4 in October from 48.4 in September. The index value was recorded in the sub-50.0 territory for a fourth month in a row.
Container spot rates continue to fall
Spot rates for shipping containers from Asia to North America East Coast continue to fall on all key routes, except for routes connecting North America with Europe.
Consumers around the world are tightening belts
Consumers in European, Asian countries, and the US are returning to belt-tightening measures that were prevalent in the 1970s and 1980s amid high inflation.
Europe’s largest port throughput rises substantially again in Q3
Container throughput at the port of Rotterdam, which handles about a third of all containers transshipped through northern European hubs, revived growth in the third quarter, despite the almost complete cessation of container trade with Russia.
Marine carriers reduce capacity, but ocean rates continue to fall
According to Sea-Intelligence, after the Golden Week festival in China, marine carriers have reduced trans-Pacific vessel capacity by 26-31% for three weeks through the cancellation of sailings, and by 19-27% on routes from Asia to Northern Europe.
A record-high increase in fuel prices in Europe
In early October, there was a surge in fuel prices at Polish gasoline stations. According to BM Reflex, the average retail price of diesel fuel was PLN 7.6 per litre. This meant an average increase of 34 cents per litre per week.
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.