Advertise Here
Icon

Directory

IconAccounting & Tax
IconAccreditation Bodies
IconActuaries
IconAssociations and Institutes
IconAuditors
IconBBBEE Consulting and Verification Agencies
IconBusiness Process Management
IconBusiness Process Outsourcing
IconCompany Secretarial Services
IconCompare Medical Scheme Benefits
IconCompliance
IconConsumer Protection
IconCorporate Governance
IconCredit Bureaus
IconDebit Order Collection Facilities
IconEducation and Training
IconEmergency Medical Rescue
IconExpatriate Cover
IconFAIS
IconHealthcare Consultants
IconHuman Resources
IconInformation Technology and Software Partners
IconLegal
IconManaged Healthcare Service Providers
IconMedical Aid Administrators
IconMedical Aid Schemes
IconMedical Schemes Trustees Liability Insurance
IconMedical Service Providers
IconOmbud
IconPolicy Administration
IconPublications
IconRegulatory Authorities
IconSurveys & Research
IconTraining Courses & Workshops
IconWellness Programs
Image
  Subscribe To »

GLOBAL TRANSPORT: WHAT DOES THE FUTURE HOLD BEYOND COVID-19?

Published

2020

Tue

21

Jul

Here are the main points addressed in this study (download it here)

 

Coface does not expect the sector to recover to fourth quarter 2019 level before 2022.

 

  • In Coface’s central scenario, the turnover of listed companies of the global transport sector will be 32% lower in the 4th quarter 2020 and 5% lower in the 4th quarter 2021 than in the 4th quarter 2019.
  • In the hypothesis of a second wave of the pandemic in the 3rd quarter of 2020, the turnover would be 57% lower in the 4th 2020 and 27% lower in the 4th 2021.
  • The impact of COVID-19 is all the more important since economic activity was already slowing down before the crisis.

 

 

Focus on air transport: the means of transport most affected by the health crisis

 

  • Among the 13 sectors for which Coface publishes sectoral risk assessments, air transport would be the most affected: its turnover expected to decrease by 51% in the baseline scenario and by 57% in the event of a second COVID-19 wave in Q3 2020.
  • According to the IATA (International Air Transport Association), air traffic decreased by 94% year-on-year in April 2020 and is not expected to return to its pre-COVID level before several years.
  • The fall in air passenger activity led to a strong decrease in air cargo capacity, as most of air cargo is carried by passenger aircraft in the "belly" of the plane.

 

 

The maritime and rail transport segments are also experiencing a strong deterioration in their activity at the global level, even though some markets (such as rail freight between China and Europe) are doing relatively better.

 

 

In a context where:

Ø The air transport sector had to face the Boeing 737 crisis.

Ø Several regulations to reduce the impact of transport sector activities on the environment have been put in place, such as: the International Maritime Organization (IMO), whose IMO 2020 regulations, since January, aim to limit ship Sulphur emission, or the United Nations International Civil Aviation Organization (ICAO) which since March 2017 has adopted a new aircraft CO2 emissions standard.

 

We suggest you speak with Erwan Madelénat, Coface economist, author of this study, to go into further details.

 

Click on the link below for the full publication:

https://www.cofaceza.com/News-Publications/Publications/Global-Transport-What-does-the-future-hold-beyond-COVID-19

 
Source: Coface
 
« Back to previous page Print this page » |
 

Breaking News »

SANDWICH PANELS: A Burning Issue - Understanding the Risk

Sandwich Panel related fires have resulted in major property damage and business interruption losses over the years. What are Sandwich Panels? Sandwich Panels or Composite Panels are structures made ...
Read More »

  

Transformation Collection During COVID-19

While COVID-19 has created havoc on society, this change can contribute to positive opportunities in the way we do business within an enterprise moving forward. Rapid Collect can assist SME's and ...
Read More »

  

Covid-19 shines spotlight on gaping holes in personal risk planning and responding insurance solutions

The Covid-19 pandemic has pulled a critical thread, unravelling the fibre of every economic and social structure, across countries, continents and communities. In the wake of soaring infections, hospitalisations ...
Read More »

  

COVID-19 and guidance for the medical profession

The Health Professions Council of South Africa (HPCSA) has recognised the severity of the COVID-19 outbreak and provided special guidelines that will apply during the pandemic. The HPCSA will continue to operate, ...
Read More »

 

More News »

Image

Investment »

Image

Life »

Image

Retirement »

Image

Short-term »

Advertise Here
Image
Image
Advertise Here

From The Glossary »

Icon

Registrar:

The Registrar of Short-term Insurance or Long-term Insurance as defined in the Insurance Acts.
More Definitions »

 

Advertise

 

eZine

 

Contact IG

 

Media Pack

 

RSS Feeds

By using this website you agree to the Terms of Use.
Copyright © Insurance Gateway (Pty) Ltd 2004 - 2020. All Rights Reserved.