The Road Freight Forwarding industry is expected to face more-favourable trading conditions over the next five years. For this reason, industry research firm IBISWorld has updated its report on the Road Freight Forwarding industry in Australia.
Melbourne, Australia (PRWEB) June 12, 2013
Freight forwarders purchase transport services in bulk, which they then onsell in smaller quantities to major markets. The distinguishing feature of their activities is consolidation, a process where they combine loads from multiple clients to use transport space as efficiently as possible. The industry’s competitive advantage of consolidation services has diminished in the five years through 2012-13 due to changes in the logistics market. As Australia’s freight task has grown, the logistics sector has increased in sophistication. According to IBISWorld industry analyst Caroline Finch, third-party logistics services have increased rapidly and the rise of vertically integrated logistics companies has eclipsed growth in the industry. Revenue for the Road Freight Forwarding1 industry is expected to decline at a compound annual rate of 2.1% over the five years through 2012-13 to be worth $2.2 billion. A 0.5% increase in industry revenue is forecast for 2012-13.
The decline in revenue in the five years through 2012-13 partly reflects the lower levels of the global oil price. Transport costs are the bulk of the industry’s purchases expense. Oil prices increased rapidly in the years to 2007-08 and industry revenue was inflated as operators passed on the increasing cost of transport to their clients. This stabilised profit. Revenue declines in 2009-10 and 2010-11 reflect the drop and subsequent rises in the price of transport, due to the less volatile behaviour of global oil prices.
The Road Freight Forwarding2 industry has a medium level of concentration, with larger players earning a disproportionate share of revenue relative to their share of industry employment. The industry s four largest players are DHL Global Forwarding (Australia) Pty Limited, TNT Australia Pty Ltd, Schenker Australia Pty Limited and Toll Holdings Limited.
Australia’s total freight task is expected to double by 2020, which will support future revenue growth, says Finch. Across major markets, demand is expected to vary . A trend for moving manufacturing offshore to low-cost producer countries has boosted Australia’s imports. Export and manufacturing markets are expected to decline commensurately. Australia’s imports are dominated by semi-finished inputs in production. Consumer goods are generally transported by road freight, increasing the market for road freight forwarders. Oil price increases in the coming years are expected to put pressure on industry profit and increase road freight rates, which are likely to spur revenue growth.
IBISWorld industry Report Key Topics
Forwarders do not actually move the goods themselves. Instead, they are mainly engaged in organising transport services and consolidating goods for transport. Consolidating loads allows road freight forwarders to achieve and pass on rates that their customers would be unable to achieve alone.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
The Road Haulage Association is backing an investigation into the price of oil
By Jamie White Head of Communications
Last year the RHA raised the issue with the Office of Fair Trading but was told there was insufficient evidence to support an investigation.
However, that decision has now changed and the European Competition Commission have announced a formal investigation is underway.
RHA2 Chief Executive, Geoff Dunning, said: Since the original fuel protests way back in 2000, we have been of the opinion that there should be far more transparency among the oil companies. Yet every time we raised the issue our concerns were dismissed out of hand.
Today s news that is tremendously encouraging; for the motorist in general, the haulage industry in particular and the UK economy as a whole.
At a time when the businesses are desperately trying to get back on their feet after several very difficult years, there finally appears to be a light at the end of the oil pricing tunnel.
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One cold and windy March morning, I went under a bridge in Stockholm to shoot a campaign for Volvo Trucks together with Anders Eklind, Forsman & Bodenfors. The campaign is about how much diesel oil the new Volvo trucks save under a whole year compared to their previous models.
Allegations of oil price manipulation come amid a furore over the rigging of Libor, the interest rate measure, by traders at Barclays.
Claims that oil prices were fixed came in a report from the G20, the group of finance ministers and central bank governors from 20 major countries, which warned that the market was wide open to manipulation or distortion .
It argues that those involved in oil trading had an incentive to distort the market and were likely to try to report false prices.
A spokesman for Prime Minister David Cameron was reported in The Daily Telegraph (July 17) as saying: The important thing is that we have efficient and fair markets. And if there is evidence that any market is being manipulated then that is a matter for the regulators, and those regulators should look at it very carefully.
Brian Madderson, chairman of theRMIPetrol Retailers Association (PRA), which represents independent forecourts across theUK, said: PRA has been concerned for some time about the lack of transparency in wholesale road fuel pricing which could be affected by any abuse of the systems used by price reporting companies.
RMIPetrol submitted a detailed report to the Office of Fair Trading (OFT) earlier this year, alleging anti-competitive pricing across theUKbased on evidence gathered from their members.
We highlighted potential flaws in price referencing systems as one of the fuel price mechanisms needing proper investigation. Businesses, motorists and independent retailers all need much greater price transparency and we on called the Government to support the request for the OFT study.
Disappointingly, our request for a new market study has been provisionally turned down by the OFT. We strongly believe that such a market study is urgently needed to review and resolve many issues that impact retail road fuel prices.
Geoff Dunning, chief executive of the Road Haulage Association, said: The price of oil dictates the price we pay for all fuel types. To learn that there is a possibility of oil traders worldwide manipulating the price comes as little surprise, given the recent news that our own financial system was rigged for the benefit of the banks.
We find it quite baffling that the oil market, as one of the world s key commodity sectors, is unregulated and appears to rely, to a great extent, on the honesty of the trader to return accurate data regarding their activities.
The G20 revelation which has found the oil market to be wide open to manipulation or distortion must be acted upon as a matter of urgency. How many more financial stones must be overturned before we can see a fair financial system in which we can place our confidence?
This country is trying to battle its way out of recession. If we cannot trust those who set the price for the life-blood of our industry, what hope is there for the rest of the economy?
Quentin Willson, a motoring expert at campaign group FairFuelUK said any deliberate fiddling of the figures by financial institutions and traders will have costUKconsumers millions in unnecessary expenditure .
These dark and devious forces should be held to account and an investigation into oil price manipulation started immediately, he said.
The Nova Scotia government has given the green light to trucking compressed natural gas on provincial roadways.
Hospitals, universities and other large energy users without access to natural gas by pipeline can have it delivered to their door, slashing energy bills by as much as 35 to 50 per cent.
It is a pivotal decision that could transform the province s energy landscape, giving struggling industries an alternative to ballooning oil prices.
Trucking compressed natural gas in a competitive marketplace could save our industrial sector tens of millions of dollars a year in energy costs, Energy Minister Charlie Parker said Wednesday.
This makes our companies more competitive and saves our universities and hospitals money that can be spent in the classroom or on patient care.
The report, commissioned in April, concluded that the distribution of compressed natural gas should not be subject to economic regulation.
Instead, it should be delivered through a competitive open market system, with a review set in five years.
The report and its recommendations balance the interests of large industrial and institutional customers who can benefit significantly right away from natural gas … and the interests of having a viable pipeline distribution system, Lahey said.
It s not a panacea that will solve the energy problems of every large institution or manufacturing facility in the province, but it will address a significant number.
Natural gas is significantly less expensive than a number of other options, such as heavy bunker oil, that large industrial facilities otherwise would be using, Lahey said.
Because most big energy users targeted for compressed natural gas are now using oil or other fuel sources, Parker said the decision is not likely to impact Nova Scotia Power electricity rates.
Heritage Gas, which has the monopoly on distributing natural gas via pipeline, reacted to the province s decision with muted praise.
We were anxious to get some clarity on this, so we re pleased the government has released the report and have made their decision, president Jim Bracken said.
I m pleased the decision does clearly acknowledge the need not to undermine the regulated distribution system. A couple of things support that, such as the prohibition on regulated compressed natural gas trucking for customers that are on our pipeline system.
However, companies that have expressed an interest in trucking the compressed natural gas and customers that could reap the benefits of a lower energy bill responded to the decision with enthusiasm.
Len Thompson, president of The Floating Pipeline Co., said trucking compressed natural gas is already common around the globe and will likely shape the province s energy future.
We ve been doing this for 10 years, battling it out in countries like Columbia, Peru and Thailand where it s quite commonplace, he said in an interview from Antigonish.
While it is still relatively new to North America, he said the significant savings could be a big plus for the province in attracting new industry.
Several big industrial energy users in the province have already expressed an interest in receiving trucked compressed natural gas.
Minas Basin Pulp & Power Co. Ltd., paper plate-maker CKF Inc. and Michelin North America, which has three tire plants in Nova Scotia, are all pointed to as potential customers.
J.D. Irving Ltd. spokeswoman Mary Keith said by email that not only could companies save money, they could also reduce their environmental footprint.
Keith said Irving operates a fleet of approved compressed natural gas delivery trucks between New Brunswick and Prince Edward Island.
We know first-hand the tremendous reduction in both greenhouse gases and costs that can be achieved with (compressed natural gas), she said, adding that it has reduced carbon dioxide emissions at Cavendish Farms on P.E.I. by 28 per cent.
Irving Oil also commended the province for making natural gas available to commercial customers in Nova Scotia without pipeline access.
Darren Gillis, general manager of Irving Energy, said in an interview from Pittsburgh that an open and competitive market will drive down costs and encourage business in the province.
Irving will begin finalizing contracts with customers and completing plans to invest in a compression facility and trucks, Gillis said.
However, he said it will likely be 18 months before Nova Scotians see trucks carrying compressed natural gas on the road.
The province said all rules and regulations that apply to transporting dangerous materials such as propane will be applied to the trucks.