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Outlook for the Freight & Carrier Industry in 2024

The outlook for the carrier industry in 2024 is one with headwinds. This year has been particular brutal on Carriers this year with plummeting returns, as a result a number of carriers will struggle to break even this year. This is a result of an over supply of shipping in the industry meaning most ships are sailing without a full load of freight. Volatility in carrier earnings is a concern with one Carrier reporting that Q3 carrier returns had diminished to 1.5%, well below the 2019 average of 2.4% and with pre-Covid margins averaging -0.2% in the ten years before 2020 the carriers could be staring at a prolonged period of losses.

What is likely to happen over the coming years beginning in 2024 is a period of consolidation in the shipping industry in order to prevent further collapse in returns. What this means for Brunswick International Freight customers is planning ahead in order to ensure your freight and cargo get to were it needs to be on time and in a safe and secure manner. Our teams in both our Liverpool & Manchester offices will ensure that your freight gets to were it needs to by talking to you about the various options that we are able to provide to all our customers. Once you have made a decision regarding which package suits your business needs we will endeavor all your needs are met.

So while the carrier industry is in for a rough ride in the next couple of years. Which will result in a period consolidation for shipping companies. As long our customers plan ahead and keep an eye on what is happening in the Carrier industry the impact on their freight is likely to be minimal. So while the shipping industry goes through a period of consolidation by removing ships from service that are not profitable and companies joining together. So while our customers will not feel a direct impact of what is going on in the Carrier industry there may be indirect impact on your business operations. It is therefore vital to plan ahead, and remember when you are partnered with Brunswick International you and your business will have no nasty suprises to deal with.

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