The difficulties facing the Turkish economy are varied and well-documented and may have some impact on the country’s logistics, as imports slow and exports become more challenging.
The threat of U.S sanctions has spooked global financial markets and confidence in government bonds, which has led interest rates rising to 20% this week, as the Turkish government looks to stem much needed foreign investment.
A drop in the Lira value, together with the withdrawal of foreign investment and the threat of sanctions challenges the country’s exporting ability and makes imports more expensive.
Subject to specific operating procedures and service levels, we work with a limited number of selected UK and continental hauliers to provide equipment for our Turkish road freight services.
We are experiencing an imbalance of cargo with slowing imports, making it more difficult to position equipment as quickly, or as efficiently as we would normally.
While Turkish suppliers and factories are continuing to operate and fill their customers orders on time and in full, we are working closely with our partners in Turkey to maintain vendor communications, arranging collection using local transport under their control.
By positioning our equipment in secure freight centres, close to the Turkish border, we can tranship cargo from the Turkish vendors, for movement direct to UK consignee, with typical overall transit of 12-14 days.