How Could The Challenges In The Red Sea Bring An End To The Shipping Recession As Freight Rates Spike?
Amidst a shipping recession, the Red Sea, a vital maritime corridor, is currently at the center of attention due to a surge in challenges faced by vessels transiting the region. Over the past weeks, Yemen-based Houthi militants have targeted commercial vessels, forcing shipping companies to alter routes and triggering a significant spike in freight rates. […]
Freight Markets are Stuck in the Doldrums
The outbreak of COVID-19 unleashed a storm of chaos upon global trade and transportation, triggering a domino effect that has disrupted the supply chain and caused the freight market to come to a grinding halt. With the borders slammed shut, consumer demand dwindling, and production put on hold, many logistics providers are struggling to stay […]
Navigating a Falling Market: 5 Key Considerations for Successful Ocean Freight Procurement
As a business owner or procurement professional, you know that market conditions can change quickly and significantly impact the success of your company. This is especially true in the ocean freight industry, where the demand for shipping can fluctuate significantly. When there is uncertainty in the market, it’s important to carefully consider your procurement strategy […]
Shippers Research Alternative Modes of Transportation to Address Congested Freight Networks
As the global economy continues to grow and evolve, so does the demand for efficient and reliable transportation of goods. However, with the increasing volume of freight being shipped worldwide, many traditional transportation networks are becoming congested, leading shippers to seek alternative modes of transportation. In this blog post, we will explore how shippers are […]
Why Do Shipping Freight Rates Continue To Decline?
Why do shipping freight rates continue to decline? Prices for shipping containers have been on a roller coaster ride over the past few years. After reaching record highs in 2021, prices have now fallen by two-thirds. So what’s driving these changes? Investors’ Chronicle reports that rates slowly began falling in the third quarter of 2022 […]
