Davies Turner says European freight growth is slowing
Strong growth in European freight volumes in recent years is showing signs of slowing down in 2019, according to Philip Stephenson, chairman of Davies Turner.
Stephenson was responding to research showing an increase in available road haulage capacity in Europe.
“One year ago European haulage capacity was very tight, especially in Germany, while now there is currently the capacity to handle demand, despite the well publicised driver shortages.
“We have also noted that haulage prices in the first quarter of 2019 were higher than in the first quarter of 2018. That is not surprising, despite the situation regarding supply and demand, as we are seeing a much-needed catch up in pricing, as underlying operational costs continue to increase strongly due to driver shortages pushing up employment costs. Road tolls and fuel prices are increasing.”
The Transport Market Monitor compiles by Transporeon and Tim Consult, recorded a rise in the capacity index of 31.4 per cent between the fourth quarter of 2018 and the first quarter of 2019.