‘Sustainability, tech will redefine supply chains in 2024’

Xerrxes Master, President, Association of Multimodal Transport Operators of India (AMTOI) says, “In 2024, the logistics industry is poised for transformative shifts driven by sustainable practices, widespread technology adoption, and accelerated digitization. The integration of eco-friendly initiatives will redefine supply chains, emphasizing sustainability. In 2024 the shipping industry will grapple with reduced demand and more supply, potentially leading to fierce competition and reduced profits and possible mergers and acquisitions. Although container schedule reliability is improving, persistent challenges will remain. Rates will remain low for the first 9 months of 2024 with the potential for growth and return with a true big shipping season in quarter four. However ongoing global disruptions such as the Israel –Palestine and Russia-Ukraine conflicts could create fluctuations in oil prices and in market rates as the year progresses.