Red Sea Crisis: The Xeneta Newsfeed
Follow the Red Sea Crisis with Xeneta for regular updates on ocean freight rates and trends.
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Red Sea Crisis
4 Steps Freight Forwarders Can Take Now
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:
- Understand your risk exposure and quantify that risk against market movements
- Continue communicating with customers through advisories, detailing risk and alternative freight modes to minimize supply chain disruption
- Use market data to operationally negotiate spot rates throughout H1
- 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.
Strengthen your market position long-term with Xeneta
As logistics professionals know, short-term market changes have a knock-on effect on the long-term contract market. So far, Xeneta has witnessed the short-term market increasing by 212% since the escalation of attacks in the Red Sea – and we expect the long-term market will have an upward trajectory in the coming months.
By continually monitoring the market with unwavering objectivity, you can ensure that your strategic decisions protect the business interests of you and your customers. Xeneta's platform cuts through the noise, allowing you to make informed choices with confidence.
In times of crisis, rely on Xeneta as your invaluable partner.
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