Flexport CEO Says a ‘Great Recession’ Is Here for Global Shipping
Odd Lots
Bloomberg
4.4 • 1.6K Ratings
🗓️ 5 January 2023
⏱️ 45 minutes
🧾️ Download transcript
Summary
Back in early 2021, Ryan Petersen was one of the first people we spoke to on the Odd Lots podcast about supply chain snarls and high shipping costs. The founder and co-CEO of Flexport has since gone on to become a go-to name in the world of logistics, making headlines after he tweeted about what could be done to fix congestion at the ports of Long Beach and Los Angeles. (A Bloomberg Opinion columnist called it the "tweetstorm that saved Christmas.") But fast forward two years and it seems like we're on the verge of a sharp reversal for the shipping industry, with freight rates now plunging and container traffic to the US down almost 20% last month. On this episode, we talk catch up with Petersen to talk about what he's seeing in the industry right now.
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| 0:41.4 | Hi, I'm Eric Schatzger, the editorial director of Bloomberg New Economy. |
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| 1:11.5 | Hello and welcome to another episode of the AdLots Podcast. I'm Joe Wisenthal. |
| 1:27.4 | And I'm Tracy Alloway. So Tracy, it seems. It seems. You're going to jinx it. I know. |
| 1:34.5 | It seems like the supply chain. It seems like the supply chain crisis. It kind of feels like |
| 1:42.3 | that's over in my opinion. I mean, I definitely think we're seeing some of the bottlenecks that |
| 1:46.1 | we spent the better part of 2020 and 2021 talking about. Those are starting to ease. |
| 1:52.0 | Some of the import boom into the US seems to be easing. There is this general shift from consumer |
... |
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