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Economy

Freight Transits At UK Ports Recover to Pre-Brexit Levels

Source: https://huq.io/indicators/freight-transits-at-uk-ports-recover-to-pre-brexit-levels/

Transits through British ports have climbed back to pre-Brexit levels and delays are showing signs of creeping down.

Levels of traffic dropped by more than a quarter after the trade deal was struck and delays jumped by 15 per cent as port officials struggled with the new rules, according to Huq Industries high frequency index. But freight volumes have risen back to 94 per cent of normal levels before Covid-19 – roughly equal to their pre-Brexit levels – and they appear to be still rising.

At the same time, delays have failed to increase and are even showing early signs of reducing. They are currently hovering at just over the 10 per cent mark on pre-Brexit levels.

The figures come as European hauliers have reported that the cost of transportation has also nearly dropped to pre-Brexit levels following a dramatic reduction last week, especially from the UK’s major trading partners – Germany, France and Italy.

Initially freight costs jumped by a quarter after the transition but are now at the same level as those seen at the end of 2020, according to the Times.The delays and costs at the UK border increased because of the extra bureaucracy caused by the UK leaving the European Union.

To learn more about the data behind this article and what Huq has to offer, visit https://huq.io/.

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DATA PROVIDER SPOTLIGHT

ForwardKeys

ForwardKeys is one of the leading travel analytics firms that provides investment firms with alternative and predictive data on the travel industry. Data is offered both on the demand and the offer-side of the aviation market.

Actual Air Reservations is an aggregation of flight bookings made via the Global Distribution Systems. Exclusive agreements make that global travel data is available, including regions that are generally difficult to track. This data contains valuable insights into the profile, behaviour, and impact of events on past, present and future air travellers.

Seat Capacity provides insights into the scheduled flights from 99% of global commercial airlines.

Financial institutions use this data for artificial intelligence and predictive models to forecast the performances of businesses. Combined, the datasets can provide insights into the financial health of businesses operating in the travel and tourism industry. This list contains companies like airlines, airplane leasing companies, oil companies, hotels and travel agencies.