Cheers to the year ahead
2020 was probably one of the toughest years we have seen to date. Covid-19 hits and changes everything. The US goes on lockdown with most states shutting things down. The businesses that did not shut down, but made it, changed the way they did business. This caused a spike in unemployment that we have not seen in years. American’s not being able to make rent/mortgage, pay utilities, or even put food on the table caused more depression which leads to bigger issues. Our economy took a big blow!!!
2021 will present some unique challenges. We have already seen a second wave of the Covid-19 with some new strings reported in the U.S. We’ve seen some states close things down again. Unemployment continues to remain high. We also can see some light. We now have a vaccine that seems to be working. The economy seems to be on the upside. The election will be behind us no matter what side you were on.
All this took a toll on the Logistics industry. We went from companies stopping shipments in the early pandemic period to companies ramping shipments up prior to the holidays and CNY (Chinese New Year). The combination of a strong cargo demand in Asia and the increasing shortage of containers has seen rates rise to unseen levels. The shortage of truck drivers is also a big issue today. This causes loads not being covered or harder to cover which in turn causes the rates to be higher.
Remember one thing, the professional at Genesis Consulting is here for you!