Thursday, July 24, 2014

Top Story

Logistics index strikes positive note for second half of 2014

The Stifel Logistics Confidence Index for July is up 0.9 points over June to 56.1, according to Transport Intelligence. Since February, researchers note, the overall index has gone up one month and dropped the next, reaching its high in May at 57.9.

Both the ocean freight and the airfreight components of the index gained this month.

The overall ocean freight confidence index reached its high in May at 60.1, dropped in June, and recovered in July at 57.8, the researchers said.

They report the July sea freight index climbed 1.6 points over June to 53.8. The Asia-to-Europe trades had the biggest increase from June, up 2.9 points to 55.6.

The Europe-to-Asia route had the weakest rise, up 0.3 points from June to 51.4, which likely indicates ongoing weakness in Asia’s economy, according to the index. This lane noted a decline of 0.8 points from June for the six-month expectations to 61.0.

The six-month expectations for the U.S. lanes to and from Europe are weak, growing less than 1.0 point from June, the report said. This could be due to uncertainty constellating labor contract negotiations for U.S. West Coast ports, since the latest contract expired the first of July.

The Asia-to-Europe lane logged the biggest gain from June, up 1.6 points to 66.6, according to the analysts, who said this might be due improving economic conditions in Europe.

The overall airfreight confidence index, which hit its high in January at 56.5, posted a reading in July of 54.4, according to Transport Intelligence.


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