December 2023: Global Freight Market Updates

December 18, 2023

What is happening in the Freight Market in December?

The December 2023 global freight market PDF updates include the latest on what is happening in the Air freight, Ocean freight and Ground markets. The downloads are available for you in PDF. Please don't hesitate to get in touch with your Crane Worldwide Logistics representative or reach out to us here for further information on how we can support your business.

With increased investment in our global presence, Crane Worldwide Logistics continues to grow where our clients need us to be. With our own U.S. domestic trucking service, we can provide full integrated logistics solutions including contract logistics and freight forwarding expertise.

  • Check out our latest client advisory on the Red Sea vessel attacks here
  • Lunar New Year 2024 will shortly be upon us, check out the dates for the CNY celebrations and don't forget to plan ahead, available here
  • Coming up in 2024, the latest developments for CARM (CBSA Assessment and Revenue Management project), read more here
  • Don't forget you can listen in to all the latest market updates on our "Coffee with Crane" podcast available on your favorite podcast player or online here.

Air Freight News

  • Air cargo capacity, measured by available cargo tonnekilometers (ACTKs), increased by 13.1% YoY in October, owing to the continued strong return of international passenger belly capacity.
  • Industry ACTKs surpassed 2019 levels by 2.8%.

Download Air Freight Update


Ocean Freight News

  • The official transit figures for the Panama Canal in November have been released, revealing a significant decline of 22% compared to October. 
  • In the coming year, significant increases in bunker adjustment factors (BAFs) are anticipated in the container shipping industry as it grapples with new trade challenges and regulations

Download Ocean Freight Update


Ground Freight News

  • Truckload spot market demand remains lower year over year and steady on a 4-week trailing average, with channel commentary highlighting softening organic demand and normalizing inventory levels.
  • Bottom line it appears demand is relatively stable as capacity continues to exit the market.

Download Ground Freight Update

 

Get in touch with your local Crane Worldwide Logistics representative or reach out HERE if you would like to discuss your upcoming shipment requirements in 2024. We are here to help!

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