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Global forwarding market reaps rewards of recovery in worldwide demand
来源： 编辑：编辑部 发布：2018/08/09 09:20:41
THE forwarding market is to grow 4.7 per cent a year between 2017 and 2022, higher than the 3.7 per cent growth of the preceding five years, according to the UK's Transport Intelligence.
A robust global economy led to a substantial expansion of the forwarding market that grew eight per cent in real terms last year, said its report.
The air freight forwarding market grew by 10.2 per cent in real terms in 2017 on the back of the rapid acceleration in global demand, reported Ti.
This was largely due to the need to re-stock inventories. Faced with higher than expected demand, shippers utilised more expensive but faster air freight services over sea. Growth in the air freight forwarding market was also led by strength in key vertical sectors, such as pharmaceuticals and e-commerce.
This is not to say that the sea freight forwarding market had a poor year by any stretch. Growth of 5.6 per cent was twice as fast as the previous year and the strongest since 2011.
Overall, forwarding growth was broad-based but increased demand and manufacturing output from North America and Europe was pivotal to the resurgence. China's market also experienced strong growth and its shift towards consumer spending is significantly altering trade patterns.
During the year, Lloyd's Loading List reported that eastbound air freight volumes (Europe-Asia) in certain key markets had started to overtake westbound volumes for the first time.
There were also stark turnarounds in South America, Sub-Saharan Africa and Russia, Caucasus and Central Asia. Growing demand for fresh agricultural produce from Brazil, increased infrastructure investment in Ethiopia and expanding trade links with Russia related to China's Belt and Road programme are all examples of positive contributing factors to the countries' respective forwarding markets.
Looking ahead, the market faces significant risks. The growing prominence of regional trade blocs will tend to favour road-based transport, and particularly in Asia, low value, low margin shipping.
Near-sourcing induced by smarter manufacturing techniques and rising wages could lead to a shift from inter- to intra-regional trade. China's Belt and Road ambitions make the possibility of east-west modal shifts to rail a genuine option for some shippers. Protectionism could also have a negative effect on volumes on key trade lanes.
A robust global economy led to a substantial expansion of the forwarding market that grew eight per cent in real terms last year, said its report.
The air freight forwarding market grew by 10.2 per cent in real terms in 2017 on the back of the rapid acceleration in global demand, reported Ti.
This was largely due to the need to re-stock inventories. Faced with higher than expected demand, shippers utilised more expensive but faster air freight services over sea. Growth in the air freight forwarding market was also led by strength in key vertical sectors, such as pharmaceuticals and e-commerce.
This is not to say that the sea freight forwarding market had a poor year by any stretch. Growth of 5.6 per cent was twice as fast as the previous year and the strongest since 2011.
Overall, forwarding growth was broad-based but increased demand and manufacturing output from North America and Europe was pivotal to the resurgence. China's market also experienced strong growth and its shift towards consumer spending is significantly altering trade patterns.
During the year, Lloyd's Loading List reported that eastbound air freight volumes (Europe-Asia) in certain key markets had started to overtake westbound volumes for the first time.
There were also stark turnarounds in South America, Sub-Saharan Africa and Russia, Caucasus and Central Asia. Growing demand for fresh agricultural produce from Brazil, increased infrastructure investment in Ethiopia and expanding trade links with Russia related to China's Belt and Road programme are all examples of positive contributing factors to the countries' respective forwarding markets.
Looking ahead, the market faces significant risks. The growing prominence of regional trade blocs will tend to favour road-based transport, and particularly in Asia, low value, low margin shipping.
Near-sourcing induced by smarter manufacturing techniques and rising wages could lead to a shift from inter- to intra-regional trade. China's Belt and Road ambitions make the possibility of east-west modal shifts to rail a genuine option for some shippers. Protectionism could also have a negative effect on volumes on key trade lanes.