Logistics Market Updates | March 2023

Download the latest on Operations and Carrier updates.

We are equipped to navigate the changes at Crane Worldwide Logistics to support our clients best. We monitor developments globally to keep you informed.

All our facilities and warehouses are operational. We have space and ground transportation options globally, book air charters, and fill space on ocean carriers.

• The challenging economic environment for air cargo is expected to persist this year. Global economic growth is forecast to remain weak, and a slowdown of economic activity is unavoidable in major economies. High inflation will continue curtailing purchasing power, dampening consumption, and global trade. These impacts are worsened by currency depreciations relative to the US dollar, which increase the local currency price of commodities invoiced in US dollars.

• IATA Jet Fuel Price Monitor shows the jet fuel price for the week ending March 10th was down 17.80% compared with a year ago at $109.25/bbl.

IATA released an information page listing airlines' status globally, accessible to all. Visit the IATA page here.

Charter Operations and Aircraft Availability

What charters do Crane Worldwide Logistics have available?

• Capacity is available for charters globally. Contact us for current rates and availability.
• If you have an opportunity, send us the details, and we can work on the current part charter capacity and pricing. Charter prices are based on current availability, and that could change rapidly. So, the size and rates have fluctuated over the past few days.
• Crane Worldwide Logistics must have a signed charter authorization from our client before signing the charter contract with the provider. Make sure you have someone standing by to sign agreements; capacity and rates change quickly.
• On all charters, funds must be received before they wheel up.

• According to The Pacific Merchant Shipping Association (PMSA), container dwell time at Long Beach and Los Angeles ports is now back to pre-pandemic levels. Dwell time continues to stabilize as volumes drop after the pandemic-related cargo surge.

• During the 8th and 12th weeks of 2023, 71 sailings have been canceled throughout the Transpacific, Transatlantic, and Asia-North Europe & Mediterranean trades. This indicates a 10% cancellation rate throughout the trades mentioned before.

• Most annual TL and intermodal bids saw combined rates ex-fuel fall mid-teens year over year. Shippers claim bid results were much better than initially projected (estimated -10% year over year) despite maintaining the same networks of carriers/brokers from prior bids.

• Small fleets / owner-operators struggle to live off the current spot market. A freshly updated freight rate survey lends, even more credence to the pain that small fleets and owner-operators have felt for the past year trying to do business by relying on the volatile spot market and with prices for diesel fuel at all-time highs.

For questions or assistance, please get in touch with our experts.