The Ti, Upply & IRU European Road Freight Rate Development Benchmark Q3 2023
Providing transparency on European road freight rates through their online platforms.
Q3 2023 edition now available.
KEY DATA FOR Q3 2023:
Q3 spot rates stand at 125.4, 1.2 points lower than Q2 2023.
Q3 contract rates stand at 128.1, just 0.4 points down on Q3 2022.
Toll price increases in Germany could increase toll costs by up to 83%, an increase which will likely be passed on to consumers.
New IRU forecasts shows European driver shortages are expected to worsen again, with 11% of job openings expected to remain unfilled in 2024.
Freight rates are expected to remain subdued with a slight seasonal uptick in Q4.
Looking to 2024 rates are expected to stabilize, as demand recovers and higher costs kick in.
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