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- Jessica Brown
The ocean freight market of the last two years starkly revealed the vulnerabilities of the global supply chain. Many project shippers, accustomed to nearly on-demand container transportation services while also holding the upper-hand in the multipurpose market, suddenly found themselves struggling to secure the space and sailings needed in 2021 and 2022, regardless of price. So, whose market are we in now? Is the pendulum swinging back toward the pre-pandemic status quo, and is it safe for shippers to bet that the market will normalize, whatever that means in 2023? Shippers must assess and mitigate the risks involved as they seek to grapple with market capacity, vessel availability, cost-vs.-price dynamics, booking lead times, and all the other factors necessary to secure the right ship and right schedule at the right price. Miscalculating current and future markets and developing trends place shippers at risk of overpaying for services, paying for service levels they don't need, unnecessarily accepting unfavorable terms and conditions, or not being able to secure services when and where needed. This panel of industry professionals, led by well-respected, long-term project logistics expert Dennis Mottola, will offer their views on current and near-term multipurpose/heavy-lift market trends. It also will discuss many of the inputs required to evaluate market conditions and arrive at informed carrier-selection decisions that enable positive outcomes.