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Red Sea Crisis 

4 Steps Freight Forwarders Can Take Now

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What can you do, right now, to optimize your selling and buying power?

Whilst you’re reading this, major ocean freight carriers continue to pause some or all of their transits through the Suez Canal and are diverting ships away from the Red Sea. And with ocean freight rates increasing faster than what we saw in the first month of COVID, it is highly unlikely that this situation will be resolved before the Lunar New Year.

Before making your next strategic move, we recommend you prioritize these four steps:  

  1. Understand your risk exposure and quantify that risk against market movements

  2. Continue communicating with customers through advisories, detailing risk and alternative freight modes to minimize supply chain disruption

  3. Use market data to operationally negotiate spot rates throughout H1

  4. Monitor and proactively communicate the domino effect on future capacity and schedule reliability to your customers  

Navigate the uncertainty and minimise disruption by following these four steps. 

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