The Upply x Ti x IRU European road freight rates index shows that Q2 rates fell in the contract index by 1.3 points quarter on quarter (q-o-q). In contrast, the spot rate index rose by 3.5 points q-o-q. Year on year (y-o-y), the spot index is now up slightly by 0.8 points, while the contract index is down 0.7 points.
The Q2 2024 European Road Freight Spot Rate Benchmark Index rose to 127.7 points, 3.5 points higher than in Q1 2024 and 0.8 points up y-o-y
The Q2 2024 European Road Freight Contract Rate Benchmark Index fell to 127.1, 1.3 points lower than in Q1 2024 and 0.7 points lower than in Q2 2023.
According to IRU’s preliminary 2024 driver shortage results, 48% of European companies expect to face more difficulties filling truck driver positions next year.
The European Commission issued a formal notice to 16 EU countries to move towards the implementation of the Eurovignette Directive.
Diesel prices fell throughout the quarter until early June when they began to rise again. But by the end of June, prices were still 5% lower than in the beginning of April.
The outlook for spot rates across Europe suggests moderate increases as we’ve entered a more stable demand environment in 2024.
The outlook for contract rates remains subdued as industrial output is still low, restraining contract rate growth.
