· As we wrap up a tumultuous year in the logistics industry many are looking for indicators of what may be ahead in 2023. As demand has decreased from record highs seen prior a slower market has left many with “What Ifs” to try to forecast by.
· Analysts seem to agree that the exponential growth seen in the past two years by ocean freight carriers will continue to normalize meaning a more stable ocean freight rate. Although there could be some variation when factoring in fuel charges that will undoubtably be passed on to shippers in ocean freight costs. The trucking industry has more unknowns at this time and a large part of their forecasting will depend on rising fuel costs and even potential fuel availability. Rail analysts seem to also indicate a stabilization through 2023 with an uptick in the second and third quarter likely as import volume increases.
· Overall, for shippers this is welcomed news as this will help to control overall costs for import goods. This also will help to prevent additional unplanned fees like detention and demurrage.
Friday December 30, 2023
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