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.

As of the end of the fourth quarter, the European spot rate index totaled 123.8 points. Compared to the third quarter of 2023, the report's spot rate index decreased by 4.5 points.

This situation is a consequence of low demand in Europe for transportation services. According to the data cited by TI, the industrial production in the fourth quarter of 2023 decreased in the UK (by 0.9% ), in Germany (by 1.6%) and minimally in France (by 0.2% ). An increase was recorded in Poland and Spain, although insignificant (by 0.4% and 0.7% respectively).

In turn, the contract rate index increased for the second consecutive quarter (up 1.7 points quarter-over-quarter) and reached 129.4 points. This was primarily the result of an increase in road tolls in Germany.