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 going through a serious crisis, according to data available in the Economic and Court Monitors. From the beginning of the year to the end of July, there were in 580 companies in Poland. The most Bankruptcies are companies from the transport and manufacturing sectors. For all companies is a 14 percent increase compared to the same period of the previous year. In transport industry and production, the increase is as much as 29 percent.
Experts blame the deteriorating business conditions for the current state of affairs – problems with payment backlogs, insufficient number of drivers and rising fuel costs, as well as new regulations on EU markets (minimum wage and drivers' work standards). More and more Poles choose to work for foreign carriers, liquidating their own businesses, small family businesses.
Meanwhile, the German Nagel Group and the Hungarian Waberers are unanimously calling on all carriers to raise their transport service rates by an average of 6 percent. In their opinion, this is the minimum that should cover rising costs running a business – it is no longer possible to optimize fuel consumption and transport logistics costs any further so as not to burden the end customer with them.
According to restructuring advisors analyzing the liquidity of enterprises and threats to various business sectors, transport industry next to the construction industry, it is currently in its most difficult situation in many years.
2 November 2018:
" More insolvencies in the TSL industry
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