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Stifel Logistics Confidence Index shows negative market outlook
THE Stifel Logistics Confidence Index fell in October to beneath the neutral 50 point mark for the first time since January 2013 as confidence in both the sea freight and air freight markets plummeted.
October was also the fifth consecutive month that the index has recorded a decline.
The logistics situation for air freight was especially bad, falling by 3.2 points to 45.7 and the trends that influenced September's decline are persisting.
These include the weak emerging market growth, China's financial crisis, and the Chinese shift towards domestic consumption, according to Transport Intelligence (Ti).
While also demonstrating a month on month decline, the six-month outlook for both air and sea freight fell at a lesser rate than that recorded in the September Index, falling by 1.8 points. Nonetheless, the total was 10.4 points lower than at the same point last year.
Sea freight was down more significantly than air, falling 2.1 points to 50.8. This total was 13.9 points lower than that recorded in October 2014.
On the positive side of October's results, a noteworthy trend depicted within the index was the encouraging performance of all shipments on routes from Europe to US. A growth trend was visible within both air and sea freight.
It can be argued that the driving force behind this is the weaker valuation of the Euro, which has encouraged exports across the Atlantic.
With regards to airfreight, all lanes were down for the month, with the exception of Europe to US, which was up by 1.9 points to 56.3. Europe to Asia noted the biggest fall, down 5.7 points to 39.0, followed by Asia to Europe, which decreased 4.9 points to 42.6.
In October the sea freight index declined by 2.9 points to 46.9. All lanes noted decreases in October, with the exception of Europe to US, which rose 4.4 points to 52.0 for the month. Asia to Europe noted the steepest decline, falling 7.0 points to 47.1. Meanwhile, Europe to Asia fell by 5.1 points to 43.6, and US to Europe lost 2.4 points to total 45.8.
October was also the fifth consecutive month that the index has recorded a decline.
The logistics situation for air freight was especially bad, falling by 3.2 points to 45.7 and the trends that influenced September's decline are persisting.
These include the weak emerging market growth, China's financial crisis, and the Chinese shift towards domestic consumption, according to Transport Intelligence (Ti).
While also demonstrating a month on month decline, the six-month outlook for both air and sea freight fell at a lesser rate than that recorded in the September Index, falling by 1.8 points. Nonetheless, the total was 10.4 points lower than at the same point last year.
Sea freight was down more significantly than air, falling 2.1 points to 50.8. This total was 13.9 points lower than that recorded in October 2014.
On the positive side of October's results, a noteworthy trend depicted within the index was the encouraging performance of all shipments on routes from Europe to US. A growth trend was visible within both air and sea freight.
It can be argued that the driving force behind this is the weaker valuation of the Euro, which has encouraged exports across the Atlantic.
With regards to airfreight, all lanes were down for the month, with the exception of Europe to US, which was up by 1.9 points to 56.3. Europe to Asia noted the biggest fall, down 5.7 points to 39.0, followed by Asia to Europe, which decreased 4.9 points to 42.6.
In October the sea freight index declined by 2.9 points to 46.9. All lanes noted decreases in October, with the exception of Europe to US, which rose 4.4 points to 52.0 for the month. Asia to Europe noted the steepest decline, falling 7.0 points to 47.1. Meanwhile, Europe to Asia fell by 5.1 points to 43.6, and US to Europe lost 2.4 points to total 45.8.
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