We recently had the opportunity to welcome over 300 Xeneta customers and partners during the annual Xeneta Summit held on November 9-10 in Hamburg, Germany. During the Summit, participants gained insight into factors that might affect the upcoming tender season and discussed sustainability in the shipping industry.
Our November Customer Webinar, hosted by Patrik Berglund, Xeneta CEO and Co-Founder and Michael Braun, VP of Customer Solutions at Xeneta, reviewed the Summit and revealed customer sentiment on ocean freight volumes, spend for the upcoming year and contract re-negotiation status.
With inconsistencies in the current spot market and recession predictions influencing consumer demand, shippers and carriers are adjusting their expectations to be more aligned with a challenging market. Here are few key takeaways from our latest customer-exclusive webinar:
When asked how they expect ocean freight volumes to compare in 2023:
In response to volume predictions for the coming year, when asked to describe their current contract situation:
With the majority of Xeneta customers continuing plans for a scheduled RFQ to receive new rates or renegotiating current long-term contracts, Michael and Patrik emphasized the pressure which is being put on carriers. The customer consensus reveals that shippers are trying to materialize savings as soon as possible.
When asked how customers expect 2023 ocean freight spend to compare to that of 2022, the consensus was:
An overwhelming majority of 85% of Xeneta Customers expect a decrease in freight spend by at least 10%. In line with the conversation of the webinar, this was to be expected, with volume and rate reductions anticipated. Michael explained the difference in the percentage of decrease to likely be due to which trade lane.
Xeneta customers get access to monthly market commentary during the Ocean Freight Market Pulse Webinars. Learn more about the Xeneta platform and how to become a customer now.
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