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Geodis expects slowdown as volumes fall after excellent first half
来源：shippingazette 编辑：编辑部 发布：2022/09/27 09:29:06
SIGNS of an Asia-Europe slowdown is plainly visible to French state-owned forwarding giant Geodis, reports Paris financial weekly La Tribune.
Geodis, the forwarding arm of the state-owned railway SNCF had a good first half with operating profit soaring 53 per cent year on year and revenue leaping 34 per cent.
But second quarter results showed a decrease in volumes in ocean and air freight on Asia-Europe routes, noted Geodis CEO Marie-Christine Lombard.
¡°Given the importance of this tradelane, it's a sign of the start of a slowdown. If there is less volume, it means Europeans, who consume 80 per cent of their products from Asia, China in particular, have already begun to reduce their consumption," she said.
¡°The summer dip in ocean is unusual, as this period traditionally corresponds to a peak in activity," Ms Lombard told La Tribune.
On air freight rates, she said: ¡°We don't know if this is a cyclical phenomenon because the summer is not normally a busy period. Let's wait until October/November to see if this trend is confirmed. By contrast, road freight prices continue to rise."
In general, Geodis sees volumes decreasing in 2023. ¡°Ecommerce is not up to the level of the forecasts. The hi-tech sector is also suffering. However, automotive, curiously, does not seem to be showing any signs of slowing down on spare parts or components. So it's variable.¡°
Geodis, the forwarding arm of the state-owned railway SNCF had a good first half with operating profit soaring 53 per cent year on year and revenue leaping 34 per cent.
But second quarter results showed a decrease in volumes in ocean and air freight on Asia-Europe routes, noted Geodis CEO Marie-Christine Lombard.
¡°Given the importance of this tradelane, it's a sign of the start of a slowdown. If there is less volume, it means Europeans, who consume 80 per cent of their products from Asia, China in particular, have already begun to reduce their consumption," she said.
¡°The summer dip in ocean is unusual, as this period traditionally corresponds to a peak in activity," Ms Lombard told La Tribune.
On air freight rates, she said: ¡°We don't know if this is a cyclical phenomenon because the summer is not normally a busy period. Let's wait until October/November to see if this trend is confirmed. By contrast, road freight prices continue to rise."
In general, Geodis sees volumes decreasing in 2023. ¡°Ecommerce is not up to the level of the forecasts. The hi-tech sector is also suffering. However, automotive, curiously, does not seem to be showing any signs of slowing down on spare parts or components. So it's variable.¡°