Global recovery at risk as road transport losses escalate

Geneva, Switzerland: Road freight transport losses globally in 2020 will exceed €550bn, according to research by the IRU.

The research shows that more than 3.5m road transport operators globally are facing unprecedented financial losses this year, as a result of transport restrictions and the overall economic downturn caused by the pandemic.

Goods transport companies globally expect an average 18% decline in turnover in 2020, totalling €551bn.

The sector is significantly affected in the Middle East and North Africa (-22%) and Asia (-21%); and in Europe is down €64bn (-17%). Companies in Argentina, China and Iran face more than a 30% decline

“Road transport services are fundamental to economies and communities everywhere,” said Umberto de Pretto,secretary general, IRU. “These new findings are alarming. Every single road transport operator that goes bankrupt will impact the movement of people and goods.”

Clear recovery measures are needed the IRU says and it has published a 10 point recovery plan, with financial and non-financial measures for governments and banks, to support struggling road transport operators, ease the movement of people and goods, and drive global recovery, but very little, and in some cases nothing, has happened since publication it says.

“We have seen many governments adjust regulations and announce recovery packages, but the detail for road transport operators is generally vague,” said Umberto de Pretto.

“Our research points to the immediate need for measures targeted to the industry that match the scale of the current situation. Even at the peak of the crisis, road transport remained flexible, operational and continued to play its unique role. Now, global recovery efforts are endangered without clear government action to support road transport operators.”

WORLD NEWS

Lineage Logistics buys Polish cold storage company Pago

Novi, Michigan, USA: Lineage Logistics has expanded in Europe acquiring Pago; Poland’s largest cold storage and logistics provider. The move marks Lineage’s entry into the …

READ THE FULL STORY >

Stena adds third new ferry Irish Sea fleet

Dublin, Ireland: Stena Line has taken ownership of its newest ferry, Stena Embla, following a handover ceremony in Weihai, China. The vessel is the third …

READ THE FULL STORY >

Luca Quaresima of NewCold takes European cold chain future leader award

Brussels, Belgium: Luca Quaresima, Europe logistic and operations manager, NewCold Advanced Cold Logistics, has been awarded the 2020 GCCA European Cold Chain Future Leader Award. …

READ THE FULL STORY >

IIR highlights high logistics costs for vaccine distribution

Paris, France: Gérald Cavalier, president of the Science and Technology Council of the International Institute of Refrigeration (IIR), has shared his perspective on the pivotal …

READ THE FULL STORY >

WHAT’S ON

  • Get connetced
    Thermo King’s online connectivity event takes place on 10 December at 10am

Latest Tweets

Food service sector needs more government help, says new president of the British Frozen Food Federation. #logistics #coldchain bit.ly/3ma4z9X

© 2020 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