The “disappointing results” in Transport Intelligence’s (Ti) Global Freight Forwarding Market Report are a consequence of economic downturn, it says – but the airfreight forwarding sector has taken a bigger hit than its ocean counterpart.
In nominal terms, the global freight forwarding market contracted by a staggering 45.6% in 2023.
The drop is attributed to the collapse in freight rates from their “unusually high” 2021 and 2022 mid-Covid levels.
“Obviously, it would …
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