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Forwarders' Stifel Logistics Confidence Index falls to two-year low
THE Stifel Logistics Confidence Index (LCI) has fallen to a 27-month low, recording near-universal deterioration in September across modes, time frames, and lanes and experiencing its biggest one-month decline to date, reports Lloyd's List.
The logistics investment analyst said the overall index fell 4.8 per cent from August this month and 13.1 per cent year on year to a reading of 51.5 - its lowest level since June 2013.
Air freight markets have slowed materially over the past three months, with current volumes dropping into sub-50 territory indicating market contraction for the first time since June 2014.
Even the six-month outlook for air freight, while still indicative of expansion, slowed to its lowest level since January 2013.
For ocean freight, 'current" forwarding volumes continued to bounce along the bottom, dipping back into contraction territory at an index reading of 49.8, Stifel said.
As with air freight, the near-term outlook for ocean freight remains for market growth, but just barely so, with the six-month expectations index falling sharply to just 52.9.
Stifel noted that global trade growth remains slow or stagnant, concluding: "Perhaps the only reprieve for Europe-based forwarders is lower buy rates on capacity, thus bolstering yields despite weaker overall volumes."
The logistics investment analyst said the overall index fell 4.8 per cent from August this month and 13.1 per cent year on year to a reading of 51.5 - its lowest level since June 2013.
Air freight markets have slowed materially over the past three months, with current volumes dropping into sub-50 territory indicating market contraction for the first time since June 2014.
Even the six-month outlook for air freight, while still indicative of expansion, slowed to its lowest level since January 2013.
For ocean freight, 'current" forwarding volumes continued to bounce along the bottom, dipping back into contraction territory at an index reading of 49.8, Stifel said.
As with air freight, the near-term outlook for ocean freight remains for market growth, but just barely so, with the six-month expectations index falling sharply to just 52.9.
Stifel noted that global trade growth remains slow or stagnant, concluding: "Perhaps the only reprieve for Europe-based forwarders is lower buy rates on capacity, thus bolstering yields despite weaker overall volumes."
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