Discover the international shipping outlook for 2024 and how Prime Logistics is addressing supply chain challenges. Learn how they are finding solutions to ensure a seamless delivery journey for their valued customers.
In addition, the latest economic news and logistics market surveys continue to indicate that the international shipping outlook for 2024 will likely be marked by a hefty dose of uncertainty. Shippers may also see their commodities costs remain elevated, based on inflation, labor expenses, and currency exchange rates.
All that said, Prime Logistics has also identified several developments that may bode well for logistics customers in 2024, but at the same time, create a bit of a double-edged sword with a deleterious impact on third-party logistics companies.
Navigating the Skies: Overcapacity’s Impact on the International Shipping Industry
The international shipping industry is experiencing the effects of overcapacity, which is influencing the outlook for the future. Commercial airlines and air cargo carriers placed numerous aircraft orders during and after the pandemic, and these orders are now being fulfilled, filling the skies with airplanes. As of November 30, 2023, Airbus has reported a total of 623 new aircraft deliveries and 133 gross orders for 2023. This influx of capacity has led carriers to compete more aggressively for cargo shipments, resulting in potential rate decreases in certain markets. While this is positive for shipping clients, it may lead to lower yields for third-party logistics providers as international shipping costs decrease. However, the impact on logistics providers could be offset if the lower prices stimulate greater demand for their services.
Prime Logistics Offers Safe, On-Time International Shipping
Among all the factors that may ultimately influence the international shipping outlook for the third-party logistics marketplace, one fact is certain. Prime Logistics is committed to keeping customers’ commodities and perishables flowing as scheduled. We’re also working 24-7 to ensure the goods are moved safely and carefully along the journey, that customs documents are expertly prepared to avoid delays, and that the commodities or perishables ultimately arrive in a time-sensitive manner.
Every day, Prime Logistics ships such important commodities as machinery, clothing, home furnishings, electronics, building materials including lumber, and much more. In particular, we ship copious quantities of fresh perishables including flowers, fish, and fruits. Speaking of perishables, Vargas emphasizes that “in 2024 we’ll also continue to serve as an important ally of this important industry in Colombia, Ecuador, and elsewhere.”
But “whatever the international shipping outlook is in 2024, we’ll continue our strong commitment to customer service,” he says. Throughout this year, for instance, Prime Logistics has invested in the latest technological solutions including those that give customers a “real-time” look at their valuable shipments. “So, our customers know exactly where their goods are at every step of the global supply chain journey,” Vargas stresses.
“In 2024, we’ll also continue our innovative approach of helping customers identify new market requirements and show how they can expand their market opportunities,” Vargas says. Prime Logistics is also positioning itself to best assist customers in tackling and helping mitigate any unexpected issues – those uncertainties that may lie ahead.
Meanwhile, as we move beyond the hectic holiday shipping season, we are now setting our sights on a bright spot in the international shipping outlook — projections for a banner year in production, handling, and shipping of fresh-cut flowers in advance of Valentine’s Day. Now is the time to start firming up your shipping channels – and there is no one better than Prime Logistics to service the South American market, where millions of pounds of flowers are grown, harvested, and shipped to wholesale and retail distributors worldwide. This is where the company launched operations as a trusted global freight forwarder and GSSA more than 22 years ago, first in Quito and since in Bogota. We know the terrain!
So, from Prime Logistics, thank you for your business and contributing to our success in 2023. Most importantly, from all of us to all of you, we’re sending our best wishes for a Happy New Year!
