International Freight Forwarding Market Updates | May 2024

May 20, 2024

International Freight Market - Air, Ocean and Ground updates 

The latest freight market updates are available now to download in PDF format. If you have any queries about the current market situation, please don't hesitate to get in touch with a member of the Crane Worldwide Logistics teams. 

Crane Worldwide Logistics experts have compiled the following updates to keep you informed on the latest market information. Our global freight presence can support your international distribution needs. A full list of our locations is available here

  • CARM Update - All businesses importing into Canada can read about the new dates for implementation of CARM here
  • General Average Shipping rule is in the news due to recent events in Baltimore but what is it? and when does it occur? For more information click here
  • Crane Worldwide Logistics provides warehouse availability where our clients need us to be! You can check out 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

  • The industry-wide available cargo tonne-kilometers (ACTKs), indicating global capacity, increased by 7.3% YoY, spurred by the ongoing expansion of international passenger belly-hold capacity.
  • The YoY increase in traffic significantly outpaced growth in trade and production metrics.

Download Air Freight Update


Ocean Freight News

  • Trans-Pacific container carriers are significantly reducing, and in certain cases eliminating, allocations to non-vessel-operating common carriers (NVOs) for fixed-rate bookings as they focus on securing cargo at considerably more profitable spot rates, which have surged by over 50% since early April.

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.

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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