The Transportation Market is Chaos at the Moment.
Luckily, for companies without the market knowledge and deep category expertise, our seasoned team of experts is here to help.
Ocean freight market container rates from China to USWC are up over 350% year-over-year, with port congestion at an all-time high. Domestically, Linehaul rates have steadily risen throughout the course of the year, to the point where tender acceptance rates are impacted and carriers aren’t willing to honor previously contracted rates. Recent annual GRIs announced by FedEx and UPS are some of the highest in recent years, with effective impact expected to be even higher.
You’re likely facing several difficulties of your own trying to get shipments moved at contracted rates and you’re not alone. More than ever, it’s important to have a plan in place to address your transportation needs as contracting season approaches. Carriers continue to maintain leverage in this capacity-constrained market so it’s important to start working with carriers early and often.
Market Insights Report
For further insights into individual transportation markets, enter your email address and we’ll send you a copy of our Q4 Logistics Market Update.
How We Can Help
For companies in need of addressing their transportation costs, Insight Sourcing Group can help and will be going to market for multiple clients in early 2022 in all transportation and logistics subcategories. Partnering with our firm will bring you:
- advanced analytics and expertise in a severely constrained market
- best-in-class sourcing processes and advanced optimization engines
- real-time visibility into the market based on rates other shippers are contracting at
- supply chain resiliency to maintain operational metrics like tender acceptance rates
In markets like the one we are currently in, relationships are key. Insight Sourcing Group can help form those relationships or can work behind-the-scenes to provide analytical support and market expertise while you continue your own carrier relationships.