Freight Market March 2024 update | Air, Ocean and Ground Updates

March 22, 2024

Latest Freight Market Update - March 2024

The latest information on the air freight, ocean freight and ground freight markets is included in the March updates, available to downloads in PDF below 

With increased investment in our global freight presence and warehouse footprint, 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.

  • Reminder: CARM - All businesses importing into Canada need to register with CARM before April 26th, 2024. More information here
  • Crane Worldwide Logistics provides warehouse availability where our clients need us to be! You can check our our warehouses in Cincinnati and Columbus as prime examples, both warehouse facilities are strategically located to serve the U.S. domestic market and have space available. 
  • 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

  • International CTKs demonstrated year-on-year expansion globally (+19.8%), showing growth across all major trade lanes, particularly prominent routes involving the Middle East and
    Asia. 
  • The industry observed a 14.6% year-on-year rise in available cargo tonne-kilometers (ACTK) last month, mainly attributed to the continuous expansion of international passenger belly-hold
    capacity.

Download Air Freight Update


Ocean Freight News

  • In 2024, global trade is anticipated to rebound from the dip experienced in 2023, as highlighted in a recent report from the United Nations Conference on Trade and Development (UNCTAD). 
  • The surge in empty container repositioning is highlighted in a recent analysis by Sea-Intelligence, emphasizing the growing trade imbalances. 

Download Ocean Freight Update


Ground Freight News

  • On a 3-month moving average, seasonally-adjusted truck tonnage in January was down 2.2% year over year and down 1.1% month over month. 

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!

Request a Quote

Let one of our client advocates build a solution that fits your logistics needs.

+1 888-870-2726