Global freight volumes confirm stagnation and indicate near-term decline

Paris, France: The latest global freight data collected by the International Transport Forum at the OECD, through September 2011, highlight concerns over macroeconomic stagnation:

  • Freight volumes, measured in tonnes of goods moved, indicate a macroeconomic stagnation. External trade by sea in the EU-27 and the USA have stagnated below pre-crisis levels (-4%, -5%);
  • EU-27 and USA trade by air, considered as a lead indicator, suggests near-term decline. Exports by air in the EU-27 fall back at their pre-crisis (June 2008) levels;
  • USA and EU-27 exports by sea to Asia (especially China) improved since Jun-11. However, trade by air faltered as exports stagnated and imports declined, contributing to the sense of weakening domestic demand;
  • Inland freight transport volumes continued to recover, albeit slowly for road freight in Europe.

The overall picture for global freight is one of stagnation. Total external trade (in tonnes) by sea has stagnated below pre-crisis levels both in the United States (-5%) and EU27 (-4%), according to preliminary estimates of tonnes of goods carried until September 2011.

The decline in air cargo continues and volumes are now only 4% above pre-crisis levels in the EU area and 1% in the United States. Exports by air from Europe have fallen and remained at their pre-crisis level since June-11.

Dependency on Asia-led growth increases with exports to Asia, and more specifically China, by sea countinued to increase in the EU-27 and the USA.  The latest monthly data (September 2011) show that exports by sea from the United States and the EU-27 to Asia are now 17% and 28% above their pre-crisis levels respectively.  However, EU and USA trade by air with Asia and China declined as growth rates for exports slowed and imports fell. Imports from Asia by air have been falling since April 2011 both in the EU-27 and USA.

Advanced economies’ demand remains weak. Imports by sea to USA and EU-27 have remained below their pre-crisis levels. The latest data on imports by air indicate further weakening of demand. Only German imports seem to have resisted otherwise downward trends.

WORLD NEWS

Krone Cool Liner celebrates 25 years

Werlte, Germany: Krone launched its first refrigerated trailer in 1996 and to mark the 25th anniversary a special Edition of the trailer is being launched. …

READ THE FULL STORY >

Bolloré Logistics to open new pharma unit

Roissy, France: Bolloré Logistics is to handle healthcare products at its Roissy hub with an 800m2 extension of a pharmaceutical unit. This will give Bolloré …

READ THE FULL STORY >

New coldstore for Brussels Airport

Brussels, Belgium: Brussels Airport has opened refrigerated storage for Kuehne+Nagel, Worldwide Flight Services and Expeditors. Kuehne+Nagel is expanding its activities at Brussels Airport for handling …

READ THE FULL STORY >

Cryoport buys Australian logistics provider

Nashville, Tennessee, US: Cryoport has acquired Critical Transport Solutions Australia for US$5million.It will continue to be run by the current management team but as part …

READ THE FULL STORY >

WHAT’S ON

Latest Tweets

Hultsteins appoints Longhurst Refrigeration as its UK aftersales service partner: bit.ly/3x65xK8 pic.twitter.com/pm8lz8b0iD

© 2021 Global Cold Chain News | Terms of use | Privacy Policy
Commercial Transport Publishing Limited, registered in England and Wales, Company No: 6453302. Registered Office: 6 Corunna Court, Corunna Road, Warwick CV34 5HQ