Ocean Freight Outlook
The Hanjin shipping bankruptcy stoked every shipper’s biggest fear: uncontrollable risk. The collapse spurred ocean carriers and shippers alike to take a close look at the financial health of their carriers. Industry experts remain apprehensive that another collapse could shatter global supply chains around the world.
Given the highly integrated and constantly shifting nature of ocean shipping, it is extremely difficult and perhaps impossible for a shipper to fully insulate itself from the risk of another carrier collapse. However, there are steps that can be taken individually or in concert that could help reduce some of that risk: 1) Diversify your carrier base, 2) Increase insurance coverage, 3) Track financials, and 4) Consider using freight forwarders.
Join Ali Ashraf, Ocean Business Development and Route Manager at C.H. Robinson, as he shares about last year’s outlook, challenges, consolidation, and the current situation of the world of ocean freight shipping.
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