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In-depth market update – Europe – 31 August 2023

In-depth market update – Europe – 31 August 2023

Dear Clients & Partners

 

Herewith our once monthly European market update.

 

Port Update

 

Mediterranean and North European hubs have been operating relatively smoothly considering the poor weather & European summer holidays which result in reduced labour levels that have a constraining effect on shipment flows.

 

We expect the upcoming month to continue on a strong footing.

 

Ocean Update

 

Peak shipping season for cargo moving from China to Europe and from Europe to it’s main export markets is in full swing. On the export side from South Africa we see Perishable volumes pick up which have reduced capacity for general cargo.

 

The celebrations of Golden Week in China and much of the Far East in October as well as the Diwali celebrations in in India in November will see the usual disruptions to cargo flows – in both cases Europe will feel the knock on effect.

 

Air Freight Update

 

Air cargo throughput at some of Europe’s biggest hubs continues to fall short of pre-pandemic levels.

 

A deeper dive into the figures reveals a modest recovery in volumes to and from Asia. But all other regions are in negative territory compared to the same time last year.

 

The failure of the UK’s flight control system earlier this week resulted in a massive amount of flight cancelations & delays which has affected freight movements in the UK and elsewhere in Europe.

 

Inland Update

 

Germany has announced a new lorry toll component that will be linked to the amount of CO2 emitted by the trucks on German roads. The new toll will be introduced as of 1st December 2023. The move of the German government puts a greater emphasis on the need for alternative drive systems in the freight industry.

 

Customs Update

 

Importers & exports in the UK are urged to prepare for changes to the labelling requirements for goods moving from Great Britton to Northern Ireland.

 

REFERENCES

[1] Maersk  updates:https://www.maersk.com/news/articles/2023/08/17/europe-market-update-august-23

[2] https://www.globalialogisticsnetwork.com/blog/2021/09/07/golden-week-in-china-and-its-impact-on-the-transportation-and-logistics-industry/

[3] https://theloadstar.com/air-cargo-through-europes-major-hubs-still-short-of-pre-pandemic-levels/

[4] https://www.bundesregierung.de/breg-en/news/lorry-toll-co2-2196348

 

As always, The Inter-Sped team ready to assist with any of your freight & Logistics needs.

 

Best regards,

JJ & The Inter-Sped team