Quick Economic Rebound Unlikely
The anticipated “quick economic rebound” and rise in import demand for the latter half of 2023 seems unlikely due to factors depressing domestic consumer spending and import availability. China’s manufacturing recovery and export capacity are weaker than expected, while weak consumer demand, increasing debt, and bank failures contribute to a credit crunch and expected recession. […]
Ocean Freight Rates Fall Along With Demand
Ocean freight demand and rates are falling despite efforts to mitigate decreased demand and capacity cuts. Uncertainty in consumer spending and overstocked inventories have reduced trucking demand and slowed inventory turnover, resulting in falling spot rates. The Logistix Company continues to prioritize optimal solutions, balancing contracted freight lanes and spot pricing for the best value. […]
