Global Trends in Freight Forwarders Industry

In 2017, air freight industry has shown strongest growth since 2010. Due to the improved global economic conditions, the year ended on a high note. Inevitable fluctuating currency exchanges and tight capacity kept the industry in pressured situations even after the rise in revenue and volumes.
This year, freight forwarding industry has already seen an extraordinary change with the welcoming months of 2018. And it is expected that the market will continue the trend for the entire year. Introduction of modern and advanced technologies, the betterment of services, new startups and also competitive threats almost everything is happening in the market. All these activities are not only increasing curiosity among the freight forwarders but also threatening them as to how they will address all the changes.
Many forwarders, who are new to the field, are thinking to invest in the technology to compete for the trending online freight marketplace. Apart from this, there are some forwarders who have employed supply chain digitization and focused on building their unique solutions. They have acquired assets to embrace digitization efforts, partnered with advanced technology providers and also started many accelerator programs. One main reason behind this is the statistics for last year, which has shown that approximately 92% of forwarders recognized that digitization provides value to them.
Capacity and rates have always been the biggest challenges for the freight forwarders industry. Different reports have shown that most of the forwarders struggle with the profitability instead of getting volume gains. Industry trends like sea freight market consolidation, factors like persistent high rates and capacity are mainly contributing for freight forwarders monetary woes. Growing container line presence in the logistics sector can increase the level of competition but the industries that are providing end-to-end supply chain solutions and managing a million squares of warehouses will have no threat of anything.
Actually, it’s difficult to determine whether technology itself is impacting the freight industry or forwarders are demanding market changes. Whatever is the reason? Australian freight forwarders are facing the probability of consolidation and the need to distinguish from such large number of forwarders available worldwide.
TSL Australia Logistics operates as a provider of top-class freight and logistics services in Rosebud. We believe a company with time-bound shipments including the screening of destinations and partners etc. can offer more security and also comply with the relevant regulations. This year, we are thinking to provide our customers with advance shipment solutions and competitive pricing.
Location: 43 High St, Prahran VIC 3181, Australia

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