Weakening demand is eating into European road freight operators’ profitability this year, with contract and spot rates declining through the first quarter.
Data from Upply x Ti x IRU’s European Road Freight Rate Development Benchmark Report indicates a quarter-on-quarter dip of 2.3 points in contract rates for the three months to April, and spot rates dropping more precipitously, falling 3.8 points quarter on quarter.
The European Union, China and the United States play the largest role in international trade, in terms of supplying products and as markets, and their trade relations largely determine the configuration of cargo flows in the international transport system.
