Shipping Companies in Miami
Miami Shipping Companies continue to compete for business even with trade wards looming. As Imports are expected to slow down, shipping companies face the dilemma of how to keep their existing customers and adding new ones without losing revenue.
Trade wars usually mean less shipments and more space on vessels, this opens up the door for price wars among freight forwarders. In the face of competition, some freight forwarders will cut their rates reducing their profits just to please their customers and hold on to their Business.
As Importers have to pay more duties due to increased tariffs, the cost of the products they sell will go up. They will try to offset the rising cost by reducing their operational cost. Shipping cost is one of those.
Importers will squeeze their freight forwarding companies for lower rates and some other free services.
Some Cities, like Miami, might indirectly benefit from trade wars. That is what some full service freight forwarders are gearing up to do.
More and more importers who ship to South America, Will utilize the services of a Freight Forwarding company that has a bonded warehouse. This way, they will not be forced to be the duties which in a way circumvents the new tariff laws.
That means more business for bonded warehouses, customs brokers and trucking companies.
As exports to countries that are the target of new tariffs decline, the prices of the affected commodities will decline and hence ignite sales of these products to newer markets. One example is the Sales of Lobster to China. The exports of Lobster to China, Who is the largest importer of Main lobster, have declined by 25%. To counter the decline, companies in the USA are offering Lobster at better prices to certain countries in Europe and South America. This in turn has created more business for shipping companies handling exports to Europe and South America.
As competitive as the Miami shipping industry is, it remains one of the strongest in the USA due to its close