The freight forwarding sector continues to face a variety of challenges in what is normally the off-peak shipping season. U.S. seaborne imports surged 26.1% higher year over year and by 19.8% compared to the same period of 2019 in April. While the demand for shipping services is up, employment in the waterborne shipping sector is still 3.1% lower than a year earlier in April, underscoring the congestion challenges. There’s also still a shortage of equipment according to S&P Global Platts, potentially leading shippers to prefer larger freight forwarders. U.S. seaborne import...
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