The freight market is going through a shake-up, and if you’re a small carrier, you are feeling it. Rates aren’t what they were even a month ago, and the numbers don’t lie — spot and contract rates are trending downward, rejection rates are staying low, and overall freight volume is slipping.Freight demand overall is down 6.5% month over month, and fuel costs have risen 6 cents per gallon over the same period. That means not only are there fewer loads available, but the cost to run those loads...
Market conditions
Market poised for mid-2024 upswing
Many logistics professionals are experiencing a somber holiday season, as the freight recession continues to rage. Despite what Reliance Partners CFO Thom Albrecht has dubbed a “brutal winter,” supply chain companies can look forward to renewed hope as the market begins to shift in the spring and summer.
“The first signs of encouragement may be around May or June 2024,” Albrecht said. “We might start to get a sense that the worst is in the rearview mirror and things are beginning to...
https://www.freightwaves.com/news/market-poised-for-mid-2024-upswing
Keeping Check Of Hull Values And P&I Cover Important For Shipowners
- Under each rule, the board of the club may, for the purposes of assessing any amount recoverable, determine the ‘proper value’.
- The Board expects members to review the insured values of their ships under their hull policies in the light of market conditions on a regular basis.
- So far as the collision rule is concerned, cover under the hull policy is always limited to the insured value of the ship.
All shipowners make sure that hull insurance is in place to cover...
https://mfame.guru/keeping-check-of-hull-values-and-pi-cover-important-for-shipowners/
Container And Tanker Outlooks Could Suffer From Uncertainty—Poulsson
Esben Poulsson, a former chairman of the International Chamber of Shipping (ICS), warns that looming economic instability and the effects of the war in Ukraine could disrupt the rosy conditions in the container and tanker trades.
Market conditionsIn the fifth in a series of interviews ahead of the Saudi Maritime Congress Poulsson talks to Seatrade Maritime News about how he sees the market outlook and the vital role Saudi Arabia has to play in the maritime industries.
“Current market conditions...
https://mfame.guru/container-and-tanker-outlooks-could-suffer-from-uncertainty-poulsson/