As we head into the next tender season, congestion across Europe and the US worsens due to strikes and unsettled labor disputes.
Carriers believe they will have a stronger market than pre-pandemic, as suggested by their willingness to pay excessively high rates to tonnage providers for their services. However, with the right strategy, shippers are now better positioned to secure potentially lower rates while negotiating.
Join our flagship State of the Ocean Market webinar on September 20, 2022, and get a full, contextual view of real-time ocean freight rates and learn if you are armed with the right market insight to take into negotiations.
China is experiencing electricity issues on top of Covid lockdowns and plans to implement a series of shutdowns where factories will stop functioning for a few days a week. This is bound to make things worse as the demand for their products has shrunk considerably, and their economic growth has almost come to a halt.
Strikes continue to be a pressing issue in many areas of the world. In the US, rail workers reached a new agreement this week, with the government stepping in to broker a deal. While the union members vote on this latest proposal, any strike or lockout will be on hold.
As carriers have started to skip ports to avoid congestion, schedule reliability is improving globally. Shippers are seeing their cargo shipped at the correct time but not necessarily arriving at the expected port.
Carriers have also shifted focus to either securing long-term contracts for guaranteed revenue or going all-in on the spot market. However, early indications suggest that carriers with this strategy have declining operating margins. This gives shippers a chance to potentially secure lower rates while negotiating if they go in with the right strategy.
Join us for our monthly flagship webinar, where Xeneta experts will dive into pressing current events, analyze the state of the ocean freight market, and review container rate movements on the main trade corridors.
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