It’s no secret that COVID had an enormous economic impact in 2020 and the years succeeding, especially on the logistics industry. 2020 saw carriers bursting at the seams and shipping rates higher than ever, creating a favorable market for carriers.
As shipping volumes and COVID-induced spikes started to decline, however, carriers were left with a lot of excess capacity, leading to diminishing rates at the same time fuel costs were spiking following Russia’s invasion of Ukraine. This created a...
https://www.freightwaves.com/news/the-market-is-shifting-shippers-and-carriers-should-prepare