The influx of foreign entrepreneurs in Europe began in May, and every month there are more and more drivers and transport companies from abroad. 95% of entrepreneurs who have set up their businesses in Europe developed the transport industry in their homeland.
The Clarksons charter rate index is currently 246 points, remaining more than four times the 2019 average. However, the index dropped 26% week-on-week last week.
Deutsche Bank’s economists argued their previous prediction for a “mild recession” in Europe is no longer valid as the energy crisis has worsened substantially since July.
The latest analysis of cargo crime across the Europe, Middle East & Africa (EMEA) region by the Transported Asset Protection Association (TAPA) has found that a large majority of losses from supply chains is concentrated in 10 countries.
According to Clarksons, the container ship orderbook began to grow rapidly in the second half of 2020, and by mid-2022 it was close to 900 vessels with a capacity of more than 7 million TEUs.
According to the latest IRU report, up to 425,000 truck driver vacancies remained unfilled in Europe in 2021. In 2021, the number of such vacancies increased by 41% compared to 2020.
Moody’s estimates that global GDP will grow by 2.5% in 2022 and 2.1% in 2023. The agency has previously expected the figure to rise by 3.1% in 2022 and 2.9% in 2023.
Staff shortages, strikes, and general traffic chaos have forced many carriers to cut scheduled flights.
In August, the euro area’s economic sentiment indicator (ESI) decreased to 97.6 points. Back in June, the indicators for both the euro area and the EU countries were positive (103.5 and 101.8 points), at the beginning of the year the indicator values exceeded 112 points.
The total container turnover of the four main ports of Northern Europe - Antwerp-Bruges, Rotterdam, Bremen/Bremerhaven, and Hamburg - for the first six months was 4.6% lower than the same period last year.
After February 24, 2022, the cargo traffic from the EU to Russia has more than halved. At the same time, there is evidence that Kazakhstan and Turkey have become transshipment points for European cargo on their way to Russia. Have the new schemes compensated for the losses from the reduction in direct trade between the Russian Federation and the EU?
The global air passenger market (measured in revenue passenger kilometers, RPK) rose by 76.2% in year-on-year (YoY) terms in June, according to a press release issued by the International Air Transport Association.
According to the Container Trade Statistics data, the global container market has turned towards positive demand dynamics, mainly due to the growth in container traffic in Asia.
The global container shipping market volume for the second quarter decreased by 2.3% compared to the second quarter of 2021. Geopolitical uncertainty and higher inflation via higher energy prices continue to weigh on consumer sentiment.
The risk of a euro-area recession has reached the highest level since November 2020 as energy shortages threaten to drive already record inflation higher still, according to economists polled by Bloomberg.
China’s military drills around Taiwan in response to US House Speaker Nancy Pelosi’s visit to the island are threatening to disrupt maritime and air transportation in the region. Shippers expect delays due to re-routing and higher shipping costs.
The head of the International Monetary Fund said that outlook for the global economy had “darkened significantly” since April, and she couldn’t exclude a possible global recession next year.
European airports have recorded a record number of flight cancellations. The main reason, according to the airlines, is personnel shortage: tens of thousands of workers engaged in the airline industry were dismissed during the coronavirus pandemic, and now these vacancies are difficult to fill.
Nearly one in four European companies in China are considering shifting their investments out of the country and redirecting them to other countries – Bloomberg reports, citing data from a survey conducted by the EU Chamber of Commerce.
Despite a significant decline in spot container shipping rates (already below the last year’s level according to the Drewry index), long-term contracted ocean freight rates have been breaking records for four consecutive months and, according to Xeneta analytical agency, increased by 10% in June compared to May.