November 14, 2019
With the mix of geopolitical tensions undermining business confidence and contributing to a lack of visibility in export markets, many observers don’t expect a significant rebound in cargo flows before 2020, according to Bolloré Logistics in its latest freight forwarding market report.
During the third quarter of 2019, a significantly slowing of international trade generated only modest gains in air and ocean volumes, representing one of the weakest periods of expansion since the 2008 global financial crisis, the French global logistics group noted.
The causes of the current doubt and hesitation are numerous, the report underlined, with the US-China trade conflict, risks of additional tariffs between Europe and North America, ‘shambolic’ negotiations towards Brexit, and dramatic developments in the Middle East all weighing even more on business planning in the third quarter (Q3) than they had the previous two quarters.
The resulting uncertainties that clouded medium-term outlook led companies to scale back procurement, production and export activities.
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Source: Lloyds Loading List