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Logistics News with TELS GLOBAL
Number of long-term airfreight contracts is growing
The Xeneta’s report begins with global air cargo demand growing by 12% year-on-year over the first seven months of 2024. On the supply side, global air cargo capacity grew by 4% in the first seven months of 2024.
Linerlytica suggests that sea freight rates can drop by 70% over 12 months
The Shanghai Containerized Freight Index for Spot (SCFIS) has been on a downward trajectory since its peak in July, particularly concerning the US West Coast.
Reuters: Foreign airlines lose interest in China
Since the outbreak of the conflict in Ukraine in 2022, Chinese carriers have continued to take shorter northern routes to Europe and North America over Russia’s airspace, while this option has been unavailable for European airlines. Reuters notes that this has given Chinese airlines a cost advantage, allowing them to take a greater share of the international market.
Turkey overtakes Poland in investment attractiveness
To circumvent tougher tariff policies of the European Union, China’s electric car manufacturers are looking for alternative ways to gain access to the European market.
China–Europe rail container traffic grows at double-digit rates
In July this year, 1,776 container trains carried 185,000 TEU, the third month in a row when more than 1,700 trains were dispatched.
India gains more interest from European businesses than China
A study by DZ Bank shows that German businesses are increasingly focusing on India, with 15% of companies planning to expand their supply chains to India. In autumn 2022, this share was still a good 10%.
Turkish container turnover up 1.5 times, with more than a quarter of the volume coming from the EU
It has raised concerns that some carriers may be transhipping goods through Türkiye to avoid paying EU carbon taxes.
Hopes for Eurozone economic recovery fail to materialise
A decrease in new orders has led to accelerated declines in production and increased job cuts. As a result of the decline in orders, manufacturing companies have also reduced their level of purchases of raw materials and semi-finished products.
Container ship punctuality down to 54%
The punctuality rate for container ships was nearly 10 percentage points lower in June this year than in the same period last year. Only during the pandemic were delays more severe.
German economy stuck in crisis
The ifo Business Climate Index fell to 87.0 points in July, after 88.6 points in June. Companies are less satisfied with the current business situation. Scepticism regarding the coming months has increased considerably.
Logistics costs up almost 40% in 10 years and set to rise further
This significant increase, says IRU, is driven by a combination of a 27% growth in the number of people working in the sector and a rise in wages.
Worldwide air freight traffic up almost 16% in H1
Double-digit growth rates were sustained throughout the first six months of the year. The worldwide air cargo surged 14.1% in June 2024 against June 2023 to 23.1 billion t⋅km.
Truck traffic decline in Germany accelerates in June
The total mileage of trucks on German motorways and federal roads decreased by 1.3% during the first half of 2024 on a year-on-year basis.
Euro zone business growth stalls in July
HCOB’s preliminary composite Purchasing Managers’ Index, compiled by S&P Global, dropped to 50.1 this month from 50.9 in June, barely above the 50 mark separating growth from contraction.
Ocean freight rates may return to pandemic times
Ocean freight rates have risen significantly over the recent weeks. This has sparked fears among freight forwarders and shippers that ocean freight rates are likely to return to the exorbitant levels seen during the COVID-19 pandemic.
Airlines plan to implement peak season surcharges in August
In June, the global air cargo market experienced its sixth consecutive month of double-digit growth, with demand increasing by 13% year-on-year.
Truck mileage in Germany continued to decline in June
According to the reports by the Federal Logistics and Mobility Office (BALM) and Federal Statistical Office (Destatis), truck traffic on the federal toll roads dipped again month-on-month.
Europe’s industrial sector remains in a state of decline
According to S&P Global, June’s Eurozone Manufacturing PMI index fell from 47.3 to 45.8 points. The rate of decline in sub-indices such as new orders and purchasing activity accelerated. Employment in the industrial sector also fell for the thirteenth consecutive month.
Understanding the spike in sea freight spot rates
Spot rates surged 74% between late April and early June. Philip Damas, Managing Director, Head of Supply Chain Advisors at Drewry, has identified key factors that have sparked a sudden rise in rates.
Germany to drastically cut spending on transport infrastructure
The German Federal Government plans to take austerity measures in the 2025 federal budget and has announced significant cuts in infrastructure and climate spending. Transport and Logistics Associations are concerned about reducing costs for maintaining and expanding highways and bridges.