Europe's hauliers feel the pain of weak demand and low freight rates
Weakening demand is eating into European road freight operators’ profitability this year, with contract and ...
ID 20772629 © Dmitri Illarionov | Dreamstime.com
The global road freight industry could be looking at an accumulated loss nearing $1trn as a result of the coronavirus outbreak, the International Road Transport Union (IRU) has warned.
“On the basis of the significant fall in intercontinental container shipments, IRU estimates a decline in global road transport activity of up to 20% in 2020, depending on how long the situation continues.
“This could lead to a global loss in operator revenues of $800bn,” it said in a statement, revising an earlier ...
Comment on this article