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Stifel Confidence index shows mixed air-sea freight sentiment
THE latest Stifel Logistics Confidence Index shows that air freight confidence index rose 0.8 points and the sea freight index slipped one point. Overall the index shrunk by just 0.1 points to 57.3. The fall has been attributed to seasonal trends.
Yet, the overall present situation gained 0.3 points, but the overall six month-expected situation fell 0.5 points.
This suggests that perhaps storm clouds may in fact be brewing for freight forwarders, reported the UK's Transport Intelligence.
It noted that despite a strengthening US economy, the Eurozone's economy remains troubling as the latest PMI figures continue to show weakness. At the same time, China's economy has cooled even further with its official PMI figures now hovering slightly above expansion level.
The air freight index indicated positive gains for all trade lanes except for the US to Europe lane. This lane recorded a 0.4 point drop to 53.6.
Interesting though was the Europe to US lane which had the biggest month-to-month gain at 2.6 points to 54.7. Perhaps the euro decline has attributed to this demand. Meanwhile, while still a lane that is in contraction, the Europe to Asia lane improved 0.2 points to 47.2, the report said.
The sea freight index faltered, slipping 0.4 points for the current month. The Asia to Europe lane was the only lane to record a positive month-to-month gain at two points to 58.0. The biggest decliner was the US to Europe lane, which fell 1.4 points into contraction territory, 49.7.
Survey respondents were positive in regards to air freight six-month outlook. The index increased 0.7 points to 58.7. However, it appears the worrisome signs coming from Europe are weighing on survey respondents as US to Europe and Asia to Europe lanes declined 2.6 and 1.4 points respectively.
Still, big gains were noted on the Europe outbound lanes, increasing 3.7 points to 63.9 for the US and up 2.8 points to 58.9 for Asia.
The sea freight index fell 1.4 points. Europe to Asia lane was the only one to register a positive gain, up 0.9 points to 64.3. Asia to Europe lane had the biggest drop, declining 4.8 points to 62.2 and the US lanes both fell. Europe to the US was down 0.2 points to 66.6 and US to Europe was down two points to 56.9.
Survey participants were asked how the overall European economy would affect freight volumes over the next six months.
Fifty six per cent indicated regional volumes would be mixed. Meanwhile, 17.4 per cent said deteriorating macro conditions would stifle volumes, but 13 per cent said improving macro conditions would boost volumes. Ten per cent were unsure, while 2.9 per cent said volumes would not be affected.
Yet, the overall present situation gained 0.3 points, but the overall six month-expected situation fell 0.5 points.
This suggests that perhaps storm clouds may in fact be brewing for freight forwarders, reported the UK's Transport Intelligence.
It noted that despite a strengthening US economy, the Eurozone's economy remains troubling as the latest PMI figures continue to show weakness. At the same time, China's economy has cooled even further with its official PMI figures now hovering slightly above expansion level.
The air freight index indicated positive gains for all trade lanes except for the US to Europe lane. This lane recorded a 0.4 point drop to 53.6.
Interesting though was the Europe to US lane which had the biggest month-to-month gain at 2.6 points to 54.7. Perhaps the euro decline has attributed to this demand. Meanwhile, while still a lane that is in contraction, the Europe to Asia lane improved 0.2 points to 47.2, the report said.
The sea freight index faltered, slipping 0.4 points for the current month. The Asia to Europe lane was the only lane to record a positive month-to-month gain at two points to 58.0. The biggest decliner was the US to Europe lane, which fell 1.4 points into contraction territory, 49.7.
Survey respondents were positive in regards to air freight six-month outlook. The index increased 0.7 points to 58.7. However, it appears the worrisome signs coming from Europe are weighing on survey respondents as US to Europe and Asia to Europe lanes declined 2.6 and 1.4 points respectively.
Still, big gains were noted on the Europe outbound lanes, increasing 3.7 points to 63.9 for the US and up 2.8 points to 58.9 for Asia.
The sea freight index fell 1.4 points. Europe to Asia lane was the only one to register a positive gain, up 0.9 points to 64.3. Asia to Europe lane had the biggest drop, declining 4.8 points to 62.2 and the US lanes both fell. Europe to the US was down 0.2 points to 66.6 and US to Europe was down two points to 56.9.
Survey participants were asked how the overall European economy would affect freight volumes over the next six months.
Fifty six per cent indicated regional volumes would be mixed. Meanwhile, 17.4 per cent said deteriorating macro conditions would stifle volumes, but 13 per cent said improving macro conditions would boost volumes. Ten per cent were unsure, while 2.9 per cent said volumes would not be affected.
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