Top Issues Global Ocean Freight 2021 Q1

Tim Consult conducted a quarterly survey directed to 165 ocean shipping experts about their Top Issues for Global Ocean Freight 2021.

The answers show that the hottest topics for shippers are related to schedule reliability, capacity challenges and equipment availability. At the same time, shippers feel confident about the Chinese Eurasian Land Bridge initiative as well as the financial stability of carriers. 

The survey suggests a greater long-term impact of service and enforceability in contracts over spot rate developments. Meanwhile, shippers are slightly more concerned about service & network changes than about future fuel prices. The impact of COVID-19 remains at the same level of uncertainty* as 3 months ago, with a little more optimism when looking at long-term impact**.

Click here to enlarge the chart

Survey participants were asked to evaluate the long term impact of top issues on their business. They also indicated the level of uncertainty they have regarding each issue.

The chosen issues are presented in the chart on a scale from 0 to 4.

0 = no impact at all / very low level of uncertainty
1= little impact / low level of uncertainty
2 = medium impact / medium level of uncertainty
3 = high impact / high level of uncertainty
4 = very high impact / very high level of uncertainty

Key Findings:

  • Service issues account for the greatest impact and uncertainty

  • Rate increases and surcharges are not as important as operative issues

  • The enforceability of contracts is becoming a crucial element

  • Concerns about the financial stability of carriers has disappeared

*Uncertainty: the level of information that is needed to properly deal with the issue.
**Impact: the level of influence that this event has or is expected to have on your business.

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