The Impact of Coronavirus to the Freight Industry – Infographic
The spread of the coronavirus or COVID-19 has led to many significant adjustments in modern society. In order to prevent the rising number of the infected as well as the fatalities caused by the virus, many business sectors were forced to shut off their daily operations. This might sound like a problematic situation for the freight industry since most freight professions rely on offering their services to different business institutions.
But what are specific effects that must be expected throughout the entirety of this pandemic crisis? Here is everything you need to know about the impact of coronavirus to the freight industry:
Coronavirus and the Global Supply Chain
Due to the fact that most people are staying indoors, global demand for many products will start and continue to become scarce. Importers and exporters are going to experience any delays in the transportation of their goods. However, those that are working in the freight industry won’t have to worry too much since it will stay operational as usual, delivering the most essential goods in places where they are most needed.
Coronavirus and Ocean Freight
In an attempt to prevent the collapse of ocean freight rates, carriers decided to blank a new record number of sailings from now until around the last days of June. There is a considerable amount of cancellations in sailings, though it stays the same within the past weeks.
Coronavirus and Air Freight
Despite the drop in ocean freight demand, air freight will continue at an extremely high cargo rate due to the rising demands in the immediate transportation of urgent supplies. With the air carrier as a faster mode of transportation, freight forwarders are now recommending their clients to go with the less expensive ocean freight services that can guarantee them more space for the cargo.
Coronavirus and Trucking
The trucking industry remained operational, especially during the start of the crisis, where retail stores are more inclined to order more supplies due to panic buying. But as the people slowly adjusted to the situation, the industries that rely on trucking are keeping themselves in stable condition. The government is also cooperative with truckers as they let them pass through main roads as long as they can present a viable permit.
Tips for Transporting Your Goods amidst the COVID-19 Crisis
- Anticipate delays – always be updated with any news that might involve your business and the transportation sectors.
- Communicate with your suppliers – establish effective communication with your suppliers to confirm order ready dates.
- Talk with your freight forwarder – hiring a freight forwarder can make things a lot easier as you can have someone that can assist you in your transportation needs, as well as a guide that can help you make better decisions during these hard times.
Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.