Supply Chain News / Risk & Compliance / Economic Development

Eurozone Severely Lacking in Imports

July 9, 2012
/ Print / Reprints /
ShareMore
/ Text Size+

With the Eurozone crisis in full swing freight traffic for logistics operatives reliant on import and export trade with the worst affected countries is naturally far from buoyant. UK based container and international road haulage specialists trading with Ireland, Spain and Greece all report similar problems with imbalances between exported and imported cargo due to the drop in the value of the euro and the lack of funds available to consumers.

At Dublin Port, the figures just released for the period January to May, principally for container and road trailer borne traffic, show a 2 percent drop according to local press reports. Dublin handles around half of Ireland’s overseas marine cargo and, whilst exports fell just 0.7 percent, imports declined 2.3 percent in the period concerned. Trailer and container operators always aspire to that perfect balance between the two trades and the larger the disparity, the trickier it becomes to maintain equilibrium of rates.

Just last month the Dublin Port Company paid a €10.2 million dividend to the State based on its profits last year bringing the total paid to its only shareholder to €46.8 million over the past six years and the prediction last year was for 2 percent growth in the period studied. Meanwhile Greek and Spanish markets are being similarly afflicted.

The stresses within the countries' domestic economies will continue to impact on their import trade particularly. Whilst a falling euro should have the effect of increasing overseas sales thus boosting exports it seems that the acceleration is too slow at present to have a meaningful effect and the imbalance caused bears its own problems.

Additionally some markets have been suffering from a variety of debilitating factors for some time. Many Greek road haulage operators, in common with those in other EU countries, blame the influx of cheaper Eastern European hauliers into the market for many of their problems as they have been uncompetitive on rates for the past few years and witnessed a steadily dwindling return on their investments with many going to the wall as a result or relying purely on domestic trade.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

KC SmartPort Momentum

Kansas City SmartPort Momentum 2013 focused on 3PLs, the issues facing the industry, and the role or logistics in economic development

Podcasts

 

Calculating a true landed cost for global sourcing directly correlates with the profitability of purchased goods. However, few companies can command real-time visibility in to all the costs involved for cross border movements. In this podcast, World Trade 100 and Amber Road highlight how a comprehensive global trade platform that converges both logistics and compliance costs can deliver true landed cost visibility.

 

Speaker: Hung Lee, Senior Product Manager, Amber Road

More Podcasts

THE MAGAZINE

World Trade 100 Magazine

april cover wt100 2014

2014 April

Check out the April 2014 edition of World Trade WT100, featuring articles on fueling changes for trucking plus much more!

Table Of Contents Subscribe

Supply Chain Disruptions

Which are the most common causes of disruptions in your supply chain?
View Results Poll Archive

WT100 STORE

world-class-warehousing.gif
World-Class Warehousing and Material Handling, 1st Edition

Filled with proven operational solutions, it will guide managers as they develop a warehouse master plan, one designed to minimize the effects of supply chain inefficiencies as it improves logistics accuracy and inventory management - and reduces overall warehousing expense.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Use our interactive maps to locate service providers across North America.Interactive Map

Logistics Development Partners 

IWLA Members

STAY CONNECTED