The global freight recession will continue in 2024: CNBC Supply Chain Survey
Publishing timestamp: 2023-11-07 10:52:54
Summary
The article discusses the soft pricing in the shipping sector, which is expected to continue into 2024 and potentially 2025. The logistics sector is facing weaker demand and overcapacity, leading to lower freight orders and revenue for trucking companies. The CNBC Supply Chain Survey indicates no growth in the first half of 2024 and a mildly positive turn in the second half. High inventories and a pullback in consumer spending are contributing to the bearish outlook. The survey also reveals mixed expectations for freight rates and volumes, with some companies expecting a slight turnaround in the second half of 2024. Overall, the article highlights the challenging economic conditions and uncertainty in the shipping industry.
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