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.
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.
HLB Mann Judd Sydney has a significant number of freight forwarding and customs broking clients across Australia and internationally. We provide value to the sector through:
Learn more about our sector experience.
The need for future-proofing is vital for businesses. The top three areas businesses are investing in are IT & Technology, Recruitment and HR.
As the industry becomes more competitive businesses need to diversify their service offerings, many freight forwarders are now incorporating warehousing into their offerings.
The biggest threats to businesses in the sector are shipping insourcing and shipping lines vertical integration into the supply chain.