News Podcast | January 2023 | Europe: Freight demand tumbles as recession bites

This episode focuses on Europe where war, Covid, inflation and a cost-of-living crisis are taking a heavy toll on economic growth and the outlook for international trade.

Nomura now expects Western Europe’s real GDP to contract by 0.4% this year. In Germany and the UK, the two large economies most affected by current economic headwinds, real GDP is expected to contract by 0.8% and 0.7%, respectively. Meanwhile, consumer prices in Western Europe rose 8.5% last year, and are expected to increase a further 5.9% this year.

However, despite the many challenges facing Europe, host Mike King hears there is cause for optimism, as he talks to senior executives at two of the continent’s leading ports and The Loadstar’s Mike Wackett.

Guests:

Doug Bannister, CEO, Port of Dover

Axel Mattern, chief executive, Port of Hamburg marketing

Mike Wackett, sea freight consultant, The Loadstar

Episode in more detail:

A challenging year at Germany’s biggest port (4.27)

Covid demand to recession – learning lessons (6.18)

Clearing away congestion (12.50)

China to the rescue? (15.44)

Ocean and air freight rates update (22.18)

Transatlantic bonanza (27.55)

UK port update (29.15)

The density of UK-EU trade via Dover (32.25)

The Brexit challenge (41.15)

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Air freight rates data provided by TAC Index – helping clients make the best air freight decisions

Sea freight rates data provided by Xeneta – the shipping industry’s most accurate source of container rates