Fleet demand softening in Europe, but ‘inflection’ coming

Analysts believe that freight markets will improve over time as capacity reduces and demand increases, but the consensus is that this will largely be felt in 2025 rather than right now. “We are in a drawn-out stage of carrier attrition. We saw some signs of spot market movement but nothing suggesting an immediate shift in the market. We’re encouraged to see positive signs but need more evidence before we call an inflection”, Jefferies analysts wrote in an investor’s note dated 6 August 2024, adding: