Forwarding still 'in recovery'

The European freight forwarding sector continues in “recovery mode” – although recovery is slow and gradual, according to Danske Bank’s February European Freight Forwarding Index.

Its indicator for volume trends over the last two months rose to 58, from 50 in January, indicating that more than half of the 140 European forwarders surveyed have seen volumes increase or remain unchanged.

The number of forwarders expecting volumes to increase over the coming two months also went up, with the index rising to 72, from 68 last month.

Transport equity analyst Johannes Møller said: “The index confirms our view that the freight market is still in a recovery mode, although the recovery is only slow and gradual. The recovery view is also supported by forward looking macro economic indicators for western Europe.

“We expect volumes to remain firm until June. The situation for July and August is more uncertain.”

He said recent port statistics showed a strong start to 2010, with Shanghai volumes increasing 18% year-on-year in January.

The strong upward trend in air freight volumes could also be seen in Iata’s statistics, which showed volumes up 28% year-on-year. (source: ifw)

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