Uber Freight CEO says the shipping recession is at a new tipping point

Uber Freight's CEO, Lior Ron, believes the freight recession may be reaching a "tipping point" due to increasing fuel prices. Ron notes that carriers are giving back lanes after bids, suggesting they can't afford certain shipping routes. Shipper volumes and carrier rates remain low, leading carriers and shippers to be more selective in their choices. Geopolitical risks also pose a threat to the industry, with potential conflicts impacting oil prices. The World Bank and Bank of America have warned of the possibility of record high oil prices.

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