Transport industry - more insolvencies

Insolvencies of companies in the transport sector increased by as much as 29 per cent in 2018 compared to the previous year, according to Euler Hermes experts. Two major European hauliers are calling for service prices to be raised by an average of 6 per cent. This is supposed to be a response to rising fuel costs, traffic jams, payment congestion and problems finding willing workers.

The transport industry in Poland is experiencing a serious crisis, according to data available from Economic and Court Monitors. From the beginning of the year until the end of July, 580 companies went bankrupt in Poland. Companies in the transport and manufacturing sectors account for the largest number of bankruptcies. For all companies, this is a 14 per cent increase compared to the same period last year. In the transport and manufacturing sector, the increase is as high as 29 per cent.

Experts blame worsening business conditions - problems with payment bottlenecks, insufficient numbers of drivers and rising fuel costs, as well as new regulations in EU markets (minimum wage and working standards for drivers). More and more Poles are choosing to work for foreign hauliers, liquidating their own businesses, small family businesses.

Meanwhile, Germany's Nagel Group and Hungary's Waberers are unanimously calling on all hauliers to raise transport service rates by an average of 6 per cent. In their view, this is the minimum to cover the rising costs of doing business - it is no longer possible to optimise fuel consumption and transport logistics costs any further so as not to burden the end customer.

According to restructuring advisors analysing corporate liquidity and risks for various business sectors, the transport industry, alongside construction, is currently in its most difficult situation for many years.

The material appeared in the Truck & Business newspaper:

2 November 2018:
" More insolvencies in the TSL industry