85% customers see decline in 2023 ocean freight spend: Xeneta
42% customers expect their ocean volumes to be stable/consistent with 2022
As many as 45 percent of Xeneta customers expect ocean freight spend to decrease by 30 percent or more in 2023, and 40 percent customers expect ocean freight spend to decrease by 10 percent or more.
As many as 42 percent of customers expect their ocean volumes to be stable/consistent with 2022, according to the latest update.
"With inconsistencies in the current spot market and recession predictions influencing consumer demand, shippers and carriers are adjusting their expectations to be more aligned with a challenging market."
While 46 percent of Xeneta customers say they are pushing through with a scheduled RFQ to get new rates, 39 percent say they are renegotiating their current long-term contracts, the update added.
Xeneta recently hosted over 300 customers at the annual summit in Hamburg, Germany.