With the slowdown of demand, there are surplus inventory in Europe; the major port congestion has ea
- Author:sofreight.com
- Release Date:2022-09-01
It is reported that due to the full warehouse of the European continent and the deterioration of consumers' demand, more and more store owners have stored excess inventory, and European consignments are postponing or canceling import orders.
The August Euro Zone Purchasing Manager Index (PMI Index) released by the S & P Global (PMI Index) shows that the demand for European manufacturing has declined sharply, resulting in an increase in unprecedented goods because companies find it difficult to transfer finished products to its market.
Andrew Harker, Economic Director of Standard S & P Global Market Intelligence Company, said in the analysis of the survey data: "The manufacturing industry is still shrinking in August. Because companies cannot transfer products under the environment where demand decreases, the finished product inventory has accumulated again.
In August, the growth rate of inventory in Europe has reached the highest level since 25 years, and the cumulative speed reached a record high for the second month. "Excessive inventory indicates that the prospects for improving manufacturing production in the short term are not great." Andrew Harker said.
Markus Panhauser, head of the European shipping of DHL global freight, explained that the level of high inventory is due to the pre -ordering of consignor in the past year to offset the bottleneck of port congestion, raw materials shortage and increasing inland logistics. However, when the goods started to reach the European port, it quickly filled all the available storage space. At the same time, the crisis of living costs intensified, inflation was out of control, and consumer demand decreased.
Markus Panhauser said: "These filled warehouses have triggered considerable order transfer in terms of customers -the order is delayed or even canceled, and some customers even face cash flow because of high inventory." "" ""
Decreased demand is one of the main issues facing European importers. They are trying to reduce the inventory of the minimum number commitment (MQCS) capabilities that affect sales and satisfy the carrier.
Carlos Alberini, CEO of fashion retailers Guess, told analysts in the second quarter telephone financial report conference: "When viewing (Europe) inventory, we find that there are a lot of inventory in the system, and there are many that will have to transfer a large amount of inventory company."
Europe is facing out of control. The inflation rate of the European Union in July reached 9.8%, a new high in 25 years.
The latest European consumer pulse survey conducted by McKinsey in June found that consumers' purchases were reduced or delayed, and basic needs such as food, transportation and energy accounted for a higher percentage of household budgets. The expenditure in non -necessary categories is cut, and the funds for savings are also decreasing.
The slowdown in demand is reflected in the current level of China's container import from Europe's largest trading partner in China and the shipping price of Asian-Nordic routes that have declined sharply since January 1.
According to the latest available data from the container Trade Statistics Bureau (CTS), compared with the first half of 2021, in the first half of 2022, Europe's imports from China were 3.84 million TEU, a decrease of nearly 5%. The last month of the year -on -year increase.
According to the data of the targeted platform XENETA, since January 1, the average stock freight from China to Northern Europe has fallen by 38%for 30 days or a short period of time. TEU's long -term contract freight level.
In addition, due to the end of school holidays and the decrease in Asian imports, the improvement of labor supply alleviates the congestion of the Nordic container port. At the same time, last week, Germany's port and workers reached a salary agreement, which is also expected to alleviate the high yard density of the Hamburg container terminal in the next few weeks.
According to the latest weekly data produced by the supply chain intelligence company EESEA for Rotterdam Port, in the past few weeks, the congestion of Rotterdam Port and the neighboring Antwerp Port has improved greatly.
The data shows that the longest equal equal time of container ships in Rotterdam has dropped from 23.3 days on August 22 to 4 days on August 29. In Antwerp-Bruch Port, the longest equal wound time decreased to 4.8 days on August 22, and further decreased to 2.1 days on August 29.
However, the longest -equal time of Hamburg Port is still very high on August 29, with 26.7 days, below 31.1 days below August 22. However, with the reach of salary negotiations and the emergence of more weekend voluntary labor, the density of high yard has been alleviated, and this situation is expected to greatly improve.
The August Euro Zone Purchasing Manager Index (PMI Index) released by the S & P Global (PMI Index) shows that the demand for European manufacturing has declined sharply, resulting in an increase in unprecedented goods because companies find it difficult to transfer finished products to its market.
Andrew Harker, Economic Director of Standard S & P Global Market Intelligence Company, said in the analysis of the survey data: "The manufacturing industry is still shrinking in August. Because companies cannot transfer products under the environment where demand decreases, the finished product inventory has accumulated again.
In August, the growth rate of inventory in Europe has reached the highest level since 25 years, and the cumulative speed reached a record high for the second month. "Excessive inventory indicates that the prospects for improving manufacturing production in the short term are not great." Andrew Harker said.
Markus Panhauser, head of the European shipping of DHL global freight, explained that the level of high inventory is due to the pre -ordering of consignor in the past year to offset the bottleneck of port congestion, raw materials shortage and increasing inland logistics. However, when the goods started to reach the European port, it quickly filled all the available storage space. At the same time, the crisis of living costs intensified, inflation was out of control, and consumer demand decreased.
Markus Panhauser said: "These filled warehouses have triggered considerable order transfer in terms of customers -the order is delayed or even canceled, and some customers even face cash flow because of high inventory." "" ""
Decreased demand is one of the main issues facing European importers. They are trying to reduce the inventory of the minimum number commitment (MQCS) capabilities that affect sales and satisfy the carrier.
Carlos Alberini, CEO of fashion retailers Guess, told analysts in the second quarter telephone financial report conference: "When viewing (Europe) inventory, we find that there are a lot of inventory in the system, and there are many that will have to transfer a large amount of inventory company."
Europe is facing out of control. The inflation rate of the European Union in July reached 9.8%, a new high in 25 years.
The latest European consumer pulse survey conducted by McKinsey in June found that consumers' purchases were reduced or delayed, and basic needs such as food, transportation and energy accounted for a higher percentage of household budgets. The expenditure in non -necessary categories is cut, and the funds for savings are also decreasing.
The slowdown in demand is reflected in the current level of China's container import from Europe's largest trading partner in China and the shipping price of Asian-Nordic routes that have declined sharply since January 1.
According to the latest available data from the container Trade Statistics Bureau (CTS), compared with the first half of 2021, in the first half of 2022, Europe's imports from China were 3.84 million TEU, a decrease of nearly 5%. The last month of the year -on -year increase.
According to the data of the targeted platform XENETA, since January 1, the average stock freight from China to Northern Europe has fallen by 38%for 30 days or a short period of time. TEU's long -term contract freight level.
In addition, due to the end of school holidays and the decrease in Asian imports, the improvement of labor supply alleviates the congestion of the Nordic container port. At the same time, last week, Germany's port and workers reached a salary agreement, which is also expected to alleviate the high yard density of the Hamburg container terminal in the next few weeks.
According to the latest weekly data produced by the supply chain intelligence company EESEA for Rotterdam Port, in the past few weeks, the congestion of Rotterdam Port and the neighboring Antwerp Port has improved greatly.
The data shows that the longest equal equal time of container ships in Rotterdam has dropped from 23.3 days on August 22 to 4 days on August 29. In Antwerp-Bruch Port, the longest equal wound time decreased to 4.8 days on August 22, and further decreased to 2.1 days on August 29.
However, the longest -equal time of Hamburg Port is still very high on August 29, with 26.7 days, below 31.1 days below August 22. However, with the reach of salary negotiations and the emergence of more weekend voluntary labor, the density of high yard has been alleviated, and this situation is expected to greatly improve.