June 15, 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.
Air Freight News - June 2023
Current State
- The performance of the North America-Europe trade lane also affected European airlines, which faced a 16.1% YoY decline in air cargo demand within Europe. Although these route areas experienced double-digit contractions in April, the robust growth of air cargo traffic on the Europe-Asia route area (up 3.4% YoY) helped mitigate the overall decline in demand for the region.
Market Forecast
- The latest figures from the Baltic Exchange Airfreight Index (BAI) show that average rates – based on contract and spot process paid by forwarders – on services from Hong Kong to North America were down 2.5% in May compared with April at $5.07 per kg. Compared with a year ago, rates on the route are down 47.7% year on year.
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Commercial Air Operations Update
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. Ensure you have someone standing by to sign agreements; capacity and rates change quickly.
- On all charters, funds must be received before they wheel up.
Ocean Freight News - June 2023
Current State
- May 2023 U.S. container import volumes increased by 3.8% from April 2023 to 2,097,313 Twenty-foot Equivalent Units (TEUs). Comparing volumes to May 2022, TEU volume was down 20.0% but up 0.5% from pre-pandemic May 2019. As with the first four months of 2023, the growth in import volume in May continued to track 2019 volumes with a difference of 1.3% for the same period in each year.
Market Forecast
- The return to 'normal' trading conditions after the COVID-19 pandemic, which saw record port congestion, a shortage of ships, and sky-high rates for Chinese export cargo, has prompted some carriers to re-adjust their trading portfolios. Although the top 10 liner operators are global carriers, their trading profiles differ significantly. Asian carriers tend to allocate more of their fleets to Transpacific and intra-Asia services.
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Road Freight News - June 2023
Current State
- On a sequential basis, the Q1 2023 Stephens TL Rate Index decreased by 3.9% from Q4 2022, underperforming the historical average sequential decrease of 3.5%. Despite the market potentially bottoming in March/early April, we expect the rate per loaded mile to underperform normal seasonal patterns sequentially and see accelerating rates of decline on a year-over-year basis in Q2 2023 as significant negative contract rate revisions, in terms of magnitude and volume, more fully take effect in the Q2.
Market Forecast
- Trucking Industry Forecast for 2023. The freight cycle remains clearly weak, but there are encouraging rays of light at the end of the tunnel. We think freight market supply and demand dynamics are tightly intertwined, with the two main explanations for the recent improvement in spot trends in April on the demand side: imports are recovering, and produce season is beginning.
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