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TRUCKING MARKET * China - Demand slump stumps transporters
Beijing,China -China Daily, by Lu Haoting -16 Feb 2009: -- The winter of 2008 may have been the coldest for Song Zhengbing, deputy-marketing director of the Shanghai Pudong Trucking Corporation. In December, nearly 35 percent of the company's 1,500 trucks remained idle, waiting to move goods... Song may not have much to cheer about in the year of the Ox either. With the global economic crisis worsening, Song anticipates his company's sales to fall nearly 25 percent this year... China Federation of Logistics and Purchasing (CFLP)'s said China's logistics industry already showed signs of a slowdown in 2008. The country's freight volume dropped 8.5 percent year-on-year in the first three quarters of 2008, according to CFLP statistics... Transportation companies in central and northeast China have seen cargo shipments for the Yangtze and Pearl river delta regions falling nearly 40 percent since July 2008, he said. The two delta regions are China's major manufacturing and export bases... Transportation prices are also falling. "Usually road transportation prices would see a 20-30 percent increase in September, but last year prices fell slightly," He said. China's road transport price index declined 4.6 percentage points in November compared with October... "We are preparing to freeze 25 percent of our truck fleet," Song said. His company is also slashing costs through various means, such as laying off drivers and cutting travel expenditure... (Photo CFP: Heavy duty trucks loaded with containers in Xinshengwei Freight Port in Nanjing, capital of Jiangsu province in East China)Labels: freight markets
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