European road freight rates remain stable in Q3

Rates generally remained stable in Q3 2024, according to the latest Upply, Ti and IRU European Road Freight Rates Index. Spot rates experienced a slight decline due to poor demand with contract freight rates flat due to cost pressures.

The subdued demand and high operating expenses are likely to sustain the current freight rate landscape, with Ti projecting an ongoing upward pressure on prices. The persistence of high costs suggests that any significant rate reductions are unlikely without substantial economic improvement in Europe.

Due to high operating costs of carriers, digitalisation is increasingly seen as a strategic avenue to enhance productivity and offset financial burdens, especially as the industry braces for potential growth once economic activity rebounds.