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            september 20, 2019

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Index indicates improving air freight


For an eighth month, the Stifel Logistics Confidence Index posted above the 50 threshold with a rise of 0.6 points to 53.0 points, indicating improving conditions in the overall European freight forwarding market, the Shipping Gazette informs.
Air cargo optimism was highest with a rise of 1.6 points from August to 45.3. While still below the 50, it is the highest reading since the Stifel Logistics Confidence Index began in early 2012.
The Europe-US tradelane was up 4.9 points, while the US-Europe lane upticked only 0.8 points. Both lanes still indicate contractions compared to expectations at 47.9 and 45.7 - again the highest levels since the index began.
The improving economies for the US and Europe are perhaps among the reasons for this growth, according to UK's Transport Intelligence.
The Logistics Confidence index continues to indicate increasing optimism among European freight forwarders in regards to the next six months for the air freight market.
In particular, on the Asia-Europe lane which noted the largest gain from August, increasing 4.6 points from to 60.4. This may indicate the potential increase in spending as the holiday season approaches.
The overall sea freight index noted a 0.4 decline to 54.1. The decline was noted in both the present situation that declined 0.4 points to 48.4 and six months expectations, which declined 0.5 points to 59.7.
The decline may be due to rate hike implementations and announcements effective September 1. It was particularly interesting to note that the US tradelanes were negatively affected for both present and future expectations; meanwhile the Asian tradelanes were mixed.
The Logistics Confidence Index indicates there should be a positive change in the next six months, climbing 0.5 points to 59.1 for September. Confidence is on the rise as freight forwarders expect improving market conditions and increases in volumes, the Shipping Gazette informs.

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