November 13, 2020
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The shipping industry found itself in the middle of modern chaos. Countries with lower fairs have thousands of workers trapped at sea, with their contracts expired and far from their families. In addition to that, a wide range of ports is still closed. Freight forwarding has significant profit declines with containers full of merchandise that is awaiting an unclear date of normalization of international traffic.
China is at the top when it comes to trading, and The Shanghai and Yangtze ports are on the impact of measures established by numerous governments. A radical decrease in demand and supply is noticeable when it comes to shipping companies. Logistic companies play a significant role in this matter. In the Asia-Europe sale map, 61 dropped sailings have been stated, resulting in a lavish decrease. All big ports throughout the world had to set rules concerning 14-day quarantine for tankers arriving from or transiting over China. Many harbours have been influenced, including Singapore, Australia, Japan, and Turkey.
With the shipping industry in huge problems, the only way possible for goods to be circulating is air transport. This cognition leads us to realize additional difficulties shipping companies are experiencing. Vital concerns for freight forwarders represent risks related to extreme delays and possible cargo deterioration, which can be fatal.
“ First Ocean Plus Shipping & logistics”Expectations and Possible Global Economic Scenarios
There are a few scenarios regarding this matter. The first one points out that, as the virus gets contained globally – the poverty jump will be present in developing countries. High-income countries will be able to recover in a relatively short period. The second scenario envisions the virus’s containment in high-income countries and a partial containment in other countries, possible periodic outbreaks with a potential economic crisis. And the third scenario is pessimistic in terms of containing the virus and the global commercial scene, meaning extremely adverse possible outcomes.
Container Transport
Cargo consolidation represents a simple term. It combines cargo from various shippers into one shipping container. It allows lower rates and is a common way of international trading. Consolidation is essential for freight forwarders because it reduces the costs and lowers the number of tasks. Combining cargo is also known as the freight consolidation industry.
With Covid-19 roaming around, shipping companies aren’t able to deliver their goods. Containers full of consolidated merchandise and workers are stuck at sea. Freight forwarders have been losing both profit and ideas rapidly. They are highly sensitive to this situation because their revenue is moderately low. Management needs to develop new strategies and stay continuous in applying and changing them in terms of dealing with these difficulties successfully. Adaptation is necessary for creating the best scenario possible.
By OPERATIONS MANAGER
RICHISON AKWETEH
First Ocean Plus Shipping & Logistics
One Stop Solution for All Type of Freight
First Ocean Plus Shipping & Logistics continued to operate every week throughout the ongoing COVID-19 crisis. We continued to take care of our customers , and we planned going forward.
Our operations continue to run smoothly, and our unique model enables us to control service delivery to the greatest degree of any Transit operation. As a reminder, We always take care of our customers.
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