Boston, MA -- (ReleaseWire) -- 04/14/2014 -- Following a year which BMI believes saw slow or negative growth in the Czech Republic's freight transport, albeit better than the year before, 2014 will signal further improvement, although pre-downturn freight levels are still far from being recovered.
Total trade is projected to pick up with our Country Risk desk forecasting a year-on-year increase of 2.5% in 2014 following an estimated growth of 1.3% in 2013.
Road freight is to continue to dominate the sector and is projected to grow by 2.0% in 2014. The mode, however, did not manage to defy the downturn and the European Union (EU) pledges of a decrease in road haulage across the region, with freight volumes expected to remain well below their 2007 levels. BMI notes that rail is the likeliest candidate in Czech Republic's freight transport mix to benefit from any diversification away from road.
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Headline Industry Data
- 2014 Air freight tonnage is expected to grow by 1.6%
- 2014 Rail freight is forecast to grow by 2.6%
- 2014 Road freight is forecast to grow by 1.6%
- 2014 Inland waterway freight is forecast to grow by 2.4%
- 2014 Total real trade growth is forecast at 2.5%.
Key Industry Trends
DB Schenker Logistics Opens New Terminal in Prague: DB Schenker Logistics' national subsidiary in the Czech Republic has relocated its headquarters and logistics centre to a new business park in Rudna. Services were not affected by the transfer to the new location. The company hopes to achieve faster and more efficient movement of goods through improved transport links.
DB Launches First CNG-powered Vehicle: DB Schenker Logistics in the Czech Republic has begun operating its first CNG- powered vehicle. The distribution car Fiat Ducato became part of the company's regional goods distribution fleet in Prague and the Central Bohemian Region. By 2020 the company aims to reduce its emissions by up to 20%.
Orient Corridor Starts Operations: The European Rail Freight Corridor No. 7 (RFC-7), the product of cooperation of seven European countries - the Czech Republic, Slovakia, Austria, Hungary, Romania, Bulgaria and Greece - began operations in November 2013.
Risks To Outlook
A more pronounced slowdown in eurozone growth than BMI currently forecasts, creates considerable downside risks to our forecasts for Czech Republic's freight transport growth. The country and the sector rely heavily on the external market for growth, particularly while domestic demand is persistently weak.
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