What everyone wants to know is if the current Crisis has affected any shipping businesses, rates and of course will it delay any freight in general. Sure, times are not easy, and many companies have closed their doors but there is also the other side where businesses have grown exponentially during this time and made a great profit. People are at home, buying online more than ever before, which requires lots of manpower to pick these purchases up!
LTL Carriers have not changed their pricing, they are busier than ever. There are only small chances of slight delays in transit times hence some terminals are working fewer employees and any non-essential workers are stationed at home.
Truckload carrier encountered price increases as many truck drivers decided to head home and wait out the uncertainty. There was a huge rate spike, with a greater demand and less available drivers, which settled quickly since these drivers that decided to stay home had no income for a while. But this could change at any time again.
Ocean shipping prices have not changed much. Strict schedules keep ocean shipping steady. Container terminals have upped their game and are extra careful with protocols to protect their employees.
Air freight is at a high. With a high demand worldwide for medical equipment, air freight has proven to be the top mode of transportation in the industry. Fast, reliable but expensive, has driven up the profit margins for air freight. The slightest variance can change the bill by thousands of dollars.
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