Index

Q1 May 2026

jacques.swanepoel@ctrack.com (Ctrack Marketing) — Thu, 07 May 2026 07:31:00 GMT

Quarterly Report | Published May 2026

A BROAD-BASED RECOVERY IN LOGISTICS SECTOR IN Q1 2026

The Ctrack Transport & Freight Index (TFI) rebounded strongly in Q1 2026 following a loss of momentum in the previous quarter, rising consistently over three months to reach an index level of 125.0—its highest point since May 2024. This reflects a 6.2% increase quarter-on-quarter and an 8.0% rise year-on-year, underpinned by improved economic conditions including moderate inflation, real wage growth, interest rate cuts, and stronger business confidence. Growth was broad-based across most freight modalities, with notable recoveries in road (+5.9% q/q), rail (+5.8% q/q), storage and handling (+11.0%), pipelines (+2.0%), and particularly sea freight, which emerged as the top performer with a 14.3% quarterly increase. Air freight, however, declined by 7.5%, reflecting reduced demand amid stronger performance in other sectors. While the overall performance signals a positive contribution to GDP growth in Q1, the sharp fuel price shock in April—driven by escalating geopolitical tensions in the Middle East—poses a significant risk to sustained momentum. Rising input costs, especially fuel, are expected to place pressure on the logistics sector and broader economy in the coming months.

Q4 January 2026

jacques.swanepoel@ctrack.com (Ctrack Marketing) — Thu, 07 May 2026 06:51:18 GMT

Quarterly Report | Published January 2026

THE LOGISTICS SECTOR ENDED 2025 UNDER PRESSURE

The Ctrack Transport & Freight Index (TFI) ended 2025 at 117.1, reflecting a modest 2.8% year-on-year increase but contracting in Q4 as weakness became more widespread. For the full year, the logistics sector experienced a second consecutive annual contraction of 1.9%, largely due to ongoing pressure in the heavily weighted road freight sub-sector (-4.5%), alongside declines in pipeline (-3.1%) and storage (-2.3%). Air freight once again led as the star performer (+7.2%), supported by solid gains in rail (+3.7%) and sea freight (+3.9%). Notable progress on structural reforms in ports and rail offers hope for improved efficiencies in the medium term, though the fragmented nature of the sector continues to limit overall performance.

Q3 November 2025

jacques.swanepoel@ctrack.com (Ctrack Marketing) — Thu, 07 May 2026 06:50:35 GMT

Quarterly Report | Published November 2025

THE LOGISTICS SECTOR REMAINS IN RECOVERY MODE IN 2025

The Ctrack Transport & Freight Index (TFI) continued its gradual recovery in 2025, rising in six of the nine months to reach 118.5 in September. This represents a 3.5% increase from the January 2025 low, though the index is still only 0.7% higher than a year earlier. Air freight remained the standout performer with 6.8% growth, supported by rail (+3.2%) and sea freight (+1.7%), while the heavily weighted road freight sub-sector stayed under pressure, contracting 0.8% year-to-date. Storage and pipeline transport also declined. Progress on structural reforms, including private sector participation in ports and rail, is laying the foundation for improved efficiency, though the recovery remains uneven and the sector is not yet out of the woods.

Q2 June 2025

jacques.swanepoel@ctrack.com (Ctrack Marketing) — Thu, 07 May 2026 06:47:40 GMT

Quarterly Report | Published June 2025

A HESITANT TURNAROUND IN THE LOGISTICS SECTOR SINCE JANUARY

The Ctrack Transport & Freight Index (TFI) showed signs of a hesitant recovery in early 2025, rising for three consecutive months before stabilising at 115.4 in April 2025. This represents a 1.6% improvement from the January low, although the index remains 6.4% below April 2024 levels. While air freight continued its strong performance (+14.1%) and rail freight posted solid gains (+3.9%), the heavily weighted road freight sub-sector remained under pressure, contracting 7.5% in the first four months of the year. Storage and pipeline transport also declined. Early indications suggest the transport sector contributed positively to Q1 2025 GDP growth for the first time since Q4 2023.

Q1 March 2025

jacques.swanepoel@ctrack.com (Ctrack Marketing) — Thu, 07 May 2026 06:46:35 GMT

Quarterly Report | Published March 2025

THE STRAIN IN LOGISTICS SECTOR ONGOING

The Ctrack Transport & Freight Index (TFI) declined for the eighth consecutive month to reach 112.8 in January 2025, its lowest level since December 2022. This represents a 5.0% drop year-on-year and a sharp 10.1% decline from the May 2024 peak, reflecting ongoing broad-based weakness in South Africa’s logistics sector. For the full year 2024, the heavy-weighted road freight sub-sector contracted notably, while air freight emerged as the standout performer with strong double-digit growth. Rail and sea freight showed modest gains, but persistent challenges including port inefficiencies, cargo diversions, and subdued economic activity continue to weigh on the sector. The latest data signals that the transport sector likely subtracted from Q4 2024 GDP growth.