Stifel European forwarder index dips in January

   The Stifel Logistics Confidence Index, which measures freight activity and sentiment among European air and ocean freight forwarders and shippers, fell marginally in January, but has stayed above the bellwether 50 mark for 12 consecutive months.
   The index is produced in partnership with U.K.-based analyst Transport Intelligence (Ti).
   In the air freight sector, Ti and Stifel found trade lane data was “mixed,” with increases on the U.S.-to-Europe and Asia-to-Europe lanes, while declines were noted for Europe-to-U.S. and Europe-to-Asia lanes.
   “The mixed data indicate a weak, but improving economy,” the firms said. “The Eurozone’s manufacturing activity is improving across the region, albeit at a spotty rate. For December, Germany, Italy and Spain noted increases in export orders. However, France, the region’s second largest economy continues to struggle. U.K.’s manufacturing activity along with new orders slipped slightly for December as well.  [International Air Transport Association’s] latest monthly data, November, indicated a strong month for European carriers, with demand increasing 8 percent year-over-year, probably due to new high-tech product launches.”
   On the ocean freight side, the index fell 4.4 points to 51.9, which Ti and Stifel attributed to “ongoing attempts to raise rates in an environment in which too much capacity exists. Forwarders, however, appeared more optimistic for the six-month outlook. The expected sea freight situation climbed 0.8 points to 61.7 points, with all trade lanes noting increases from December. Confidence appears high for a much improved second half of 2014.”
   The monthly index uses a baseline of 50, with an index reading of higher than 50 indicating there’s confidence in the international shipping market.