I. Climate change, looming geopolitical tensions

Black swan events are the most important turning point for the freight forwarding industry in 2023.

However, 2024 will see a shift from random contingencies to the destructive forces of climate change and political unrest.

These events will have a significant impact and will lead to unstable resource supplies, cut-off transport routes and disruption of production activities while costs rise. This also means that forwarders will need to step up their preparations and adapt their strategies to deal with the challenges at hand.

With this in mind, forwarders need to prioritise their agility, flexibility and visibility so that they can respond effectively to supply chain disruptions.

II. The wave of consolidation

The mergers and acquisitions market in the freight forwarding industry has become increasingly active since the outbreak, and 2024 shows no signs of letting up. Against the backdrop of a series of mergers and acquisitions in the industry, the trade press has predicted that this year will be the "year of consolidation".

Increased capacity and fluctuating demand

The transport and logistics industry is currently facing a double crisis of reduced cargo demand and increased capacity. According to the International Shipping Association (BIMCO) estimates, the global container volume and global maritime fleet will be on the rise in 2024, but the demand for air transport is still lukewarm.

The impact of this on freight forwarders is that competition has increased. This also means that freight forwarders need to work harder to stand out in the market.

IV. The real test of commitment to sustainable development

2024 will be a crucial year for sustainable development and the process of decarbonising the transport and logistics industry. New reporting documents will come into force in the EU and other jurisdictions will follow suit. As a result of this trend, the International Maritime Organisation (IMO) will also be looking more closely at issues related to greenhouse gas emissions from shipping.

V. Digitalisation is a must

Today, the potential of the digital freight forwarding industry has not yet reached expectations, but in 2023, most companies are also striving to achieve their growth and profitability. This also shows that digitalisation has become particularly important for all freight forwarders.

Inspired by digitised freight services and driven by increased customer demand and visibility, more and more traditional freight forwarders are looking for more advanced technological solutions.

Based on this. the freight forwarding industry will face new tests in 2024. Of course, it is also possible to benefit from new opportunities, and the industry will continue to see new prospects and challenges.