Air, Forwarding, Freight News, Logistics, Rail, Road, Sea

FIATA predicts global freight squeeze

[ March 1, 2022   //   ]

International forwarders federation FIATA predicted that the maritime crisis will intensify as ports become blocked and sanctions lead to overnight removal of tankers from the global charter market, causing spot rates and transport costs to climb.
On the roads, blocked drivers are again experiencing poor facilities including lack of food, security and sanitary provisions, with the European Commission and some EU-member and non-member states calling for support for visa and permit waivers for drivers.
FIATA too expects rail freight to be affected, especially China-Europe flows. Slowing or stopping of bilateral trade flows between China and Europe or a complete halt in transiting freight could be experienced. FIATA points out that 50% of all EU-bound rail freight traffic enters via Russia and Belarus, a traffic that rose 30% in 2021.
Air cargo will be affected by rerouting of flights notably between Europe and Asia and adding to the difficulties encountered by the industry during the Covid pandemic. 
IT experts are also prompting businesses to be alert to cyber attacks, urging them to keep protected and backed-up where possible.