Freight forwarding: Q1 wrap-up and industry forecasts

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Following a busy 2021, the Explorate team got straight back to it in the first quarter of 2022.  

So, let’s take a moment to appreciate the highs and lows of the year so far alongside some teasers for what you can expect in the coming months.

Feature Highlights

We released some of our favourite features to date, including:

Reporting and Analytics Pages

Make data-driven decisions with enhanced insight into shipment delays, shipment types and customised statistics.

Features Updates

Stay up to date with every new feature we ship.
Oh, and the Invoicing section now allows you to set your preferred currency. But that’s not all! We’re working on several powerful features set to launch in the coming months, including something transformative that will enable customers to build carbon neutral supply chains.

Haven’t checked out your Q1 reports yet? View them now by visiting the reporting tab in app.

Bigger and better Explorate

We started the year with a bang and we have no plans to slow down: Explorate secured $7.5 million in funding led by Equity Venture Partners to expand Australian operations.

This is the start of an exciting new chapter for us and translates into a new Adelaide office (with Melbourne and Sydney on the horizon), talent recruitment in full swing, and enhanced automation, data analytics and experiences for our customers.

With this round of funding, we really want to show what Australian, and more broadly, global supply chains can be capable of if you foster the right mix of people, technology and innovation.”

“We have spent five years getting that mix right and are now ready to push for scale. We couldn’t be more confident in the team, our software and cohort of investors to give Explorate the global presence it deserves.”

Alex Ewart, co-founder, Explorate

Challenges & Current Affairs

Unprecedented weather events

Queensland and NSW experienced an extraordinarily widespread rainfall and almost half a year’s worth of rain in 48 hours. Road closures, repairs and continued flooding affected the port, depots and deliveries. Personal and economic damages were worse than predicted, and supply chain operations were highly impacted.

Climate change is contributing to the frequency and severity of similar weather events, and supply chains will not be immune to these effects. But Explorate is here to help you navigate these events now and into the future with our digital dashboards, faultless workflow management and real-time track and trace feature to see exactly where your shipments are.

COVID-19 Flare ups

As predicted, the pandemic is lingering a little longer. The Chinese cities of Beijing, Hong Kong, Shanghai, Shenzhen and Qingdao, are currently affected by the worst COVID-19 flare ups since the start of the pandemic. The country is enacting a number of measures to stop the spread and ensure businesses continue operating.

The pandemic continues to play an important role. As the world is learning to live with COVID-19, the demand for energy and fuel is rising again and with it, increasing prices.

War and rising prices

The Russia-Ukraine war is a tragic conflict that is expected to generate worldwide disruptions. Russia is the second largest producer of oil and natural gas in the world and the uncertainty of the war is driving these prices up fast.

There are also other circumstances bringing additional challenges to the market: drilling companies reducing production due to countries opting for greener alternatives, oil inventories falling and unstable conditions in other important oil and fuel producers, like Libya or Ecuador.

The first quarter of the year has yet again emphasised the need to work in an agile, transparent and flexible way and to use supply chain data to build supply chain robustness – which is Explorate’s forte. 

We’ve been keeping ourselves busy in Q1 and Q2 is shaping up to be equally as productive! Thanks to your continual support, we will be releasing some truly exciting updates to the app in the coming months.

If you’re already an Explorate customer, stay in touch with your designated operations specialist and if you’re not with us yet, we can arrange a free demonstration to show you how the Explorate Platform could change the way you do freight forwarding.