European Perspective - Futures signals for moving companies - March 2023

There are quite good signals regarding the economy, so that a recession may not be imminent after all, inflation could fall to a more bearable level and many companies are looking more positively into 2023 than initially thought. These are good indicators for us moving companies as well.

FREIGHT SECTOR

There is a slight easing in the sea freight sector. Sea freight rates are falling in almost all trades, except for freight rates to the U.S., Canada and to South America.

Import freight rates from the Far East have dropped from USD 20,000 in September/October 2022 to currently approx. USD 2,000 per 40' container.

CONTAINER TRUCKING SECTOR

There is also some good news to report in the container trucking sector. Since early/mid-January 2023, capacities became available at short notice without any problems. Truckers are happily accepting bookings and so are the shipping companies for almost all destinations, again, except for the U.S., Canada and for South America. In Germany they still experience a shortage of container and space, and short notice bookings are almost impossible.

Today many countries are almost back to normal – face masks only must be worn in hospitals, retirement homes and at the doctor’s office; events can be held without restrictions, travelling is back to normal.

LESS STAFF

However, the lack of staff is noticeable in many places; at the airport, for example, you sometimes wait about 2 hours for your luggage after arrival. Public transport is often canceled because no drivers are available, or restaurants can only fill half the seats because either kitchen staff or waiters are missing. In addition, there are currently many strikes initiated by the trade unions, demanding wage increases to compensate for inflation for the working population.

NO NEWS...

At least the usual economic downturn in moving industry at this time of year has not occurred.

SOURCE: Christ (Germany)