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The freight forwarding and customs clearance sector is a major contributor to the facilitation of trade in South Africa and it co-ordinates over 80% of South Africa’s international trade. As they are an intermediary service, freight forwarders have relatively low operating costs and charge customers based on the freight rates charged by the carrier, which in turn are based on operating costs and the value of the goods being transported.
Effects of the Pandemic
The coronavirus pandemic has had a serious effect on global growth and trade with restrictions on economic activity, border closures, the cancellation of ship sailings and port closures, and flight cancellations and airport closures. The spread of the virus has affected the markets for air and sea freight. The reduction in demand, lockdown restrictions and the poor economic situation will affect the revenue of the freight forwarding and customs clearance sector which is a service provider to export and import activities.
The freight forwarding and customs clearance sector has no influence on the market as it depends on freight requiring transport created by other elements of the supply chain. Rates are based on those charged by the carrier. Port congestion and poorly equipped state organisations are major challenges, as are fees charged by shipping lines and other surcharges. Inconsistent international lockdown restrictions have affected the supply chain.
This report focuses on the freight forwarding and customs clearing industry and includes comprehensive information on the state and size of the sector and the factors that influence it, trade statistics, regulation and corporate action in the sector. There are profiles of 43 companies including DSV Panalpina, formerly Bidvest Panalpina which was bought by Danish company DSV and Grindrod, which increased its stake in its IVS Bulk joint venture. Other profiles include Barloworld Logistics, Ibhayi Clearing and Logistics, Safcor Freight and Value logistics.