Ocean Freight Rates Getting Closer to Pre-Pandemic Levels, Says Farooq Shaikh

Speaking at the TLME Future of Logistics Part 3 Conference held recently in Dubai, Farookh Shaikh, CEO of LogiPoint said ocean freight rates were returning to pre-pandemic levels while the logistics industry was seeing a new normal with the post-pandemic era being very different from earlier times.

According to Shaikh, the new scenario means that transport and logistics operations need to be approached with a new set of goals and principles in mind.

This culminates in a strong focus on resilience.

With inventory levels returning back up, the region was also seeing an uptick in demand for logistics real estate - with warehouses and related infrastructure seeing growth.

Declining freight rates also gave stakeholders the flexibility in investing in other parts of their supply chain operations, concluded Mr Shaikh.

Read More: Key Word During Pandemic was “Resilience”: Sue Donoghue, DHL GF