Mistral Shipping

A historic increase in road fares !

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According to the International Road Transport Union (IRU), road freight rates reached a historic level in Europe in the second quarter. This increase is mainly due to higher fuel costs, inflation and a lack of drivers.
IRU highlights that “Road freight transport prices have reached historic highs across Europe, driven by robust economic growth, supply chain bottlenecks, rising costs and scarcity of capacity.”
The increase in fuel prices varies from one country to another. Indeed, overall, it reached 69% between January and July. While inflation reached 8.6% in the euro area in June, with:
  • 5.8% in France
  • 7.9% in Germany
  • 10.2% in Spain
The latest statistics show a shortage of 425,000 truck driver positions in 2021, or 10% of the theoretical workforce, with a predictable increase of 4% at the end of the year.
According to the IRU, this deterioration is strongly linked to the ageing of the profession and the difficulties in recruiting young drivers, with more than 228,000 truck drivers working in Europe, in 2021 were mainly from Ukraine and Belarus.
The European continent is experiencing a decline in demand for road freight, with a slowdown in economic activity and inflation rates that are weakening both consumer and business confidence.
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