News / Managing freight spend the main concern as Red Sea crisis drags on

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Managing freight spend is the biggest concern for shippers and forwarders, as the supply chain volatility driving ocean rate hikes appears to have no end in sight.  

In Xeneta’s mid-year ocean freight update, CEO and co-founder Patrik Berglund said: “Carriers were expecting to record massive financial losses in 2024, but the skyrocketing spot market will see them deliver a full-year profit, which seemed improbable six months ago.” 

Indeed, while the Xeneta outlook in October suggested a volatile spot market, it noted ...