Freight Forwarding & Customs Broking Industry Benchmarking Report May 2022

HLB Mann Judd Sydney has launched its 2022 Freight Forwarding and Customs Broking Benchmarking Report.

The report looks at the disruption the sector has faced in the last two years and what businesses can be doing to future-proof themselves in these uncertain times.

Report Summary 

• HLB Mann Judd Sydney surveyed 86 leaders in the freight forwarding and customs broking industries
• 94% of survey participants made a profit last year and will do this year as well
• The sector is seeing more competition with 47% of survey participants are now also offering a warehousing solution
• 54% of business are focused on improving their process efficiency
• Recruitment and retention of skilled, experience staff continues to be a challenge
• The findings were presented at International Forwarders & Customs Brokers Association of Australia conference on 20 May.

Lockdowns and the fear of catching Covid, meant people stayed at home and online shopping boomed. With limited international travel, airlines were relying on freight to keep operating. Many in the freight and customs broking sectors saw business booming.

As any economist will tell you – what goes up must come down. In March 2021, the Suez Canal was blocked for six days after the grounding of Ever Given, a 20,000 TEU container ship. We now find ourselves in a market where continued lockdowns in China and the war in Ukraine have led to supply chain issues and increase in costs.