Freight News, Road

Road freight costs surge across Europe

[ November 3, 2021   //   ]

Road freight prices have hit historic highs across Europe in the third quarter of 2021, according to the European Road Freight Rate Benchmark by analysts Ti and Upply and the International Road Transport Union (IRU).
It marks the fifth consecutive quarter in which the benchmark has risen and also a 4% rise in benchmark rates when compared with the second quarter of 2020 when the worst of disruption from the Covid-19 pandemic was felt.
The upwards trajectory to the end of Q3 2021 reflects a period in which congestion, bottlenecks, capacity issues and rising costs have created a potent mix of pressures within the European logistics market.
Capacity shortages have been especially felt in the UK where a shortage of qualified HGV drivers has led to empty supermarket shelves and severe congestion at the port of Felixstowe, amongst other challenges.
But there are also driver shortages in Spain, France and Germany.
Diesel prices in Germany are also 38.5% higher than at the same time last year and are also up 26.6% in the UK.