Logistics Market Updates | May 2023

May 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 - May 2023

Current State

  • Air cargo capacity grew 9.9% YoY, primarily due to the increasing belly-hold capacity from passenger aircraft. As a result, cargo load factors fell to 46.2%, 8.8 percentage points (ppts) lower than last year's load factors.

Market Forecast

  • The latest statistics from Baltic Exchange Airfreight Index (BAI) show declines in prices between Asia and Europe, Asia and North America, and across the Atlantic. The falls are unusual as rates tend to rise slightly – or at least stay flat – in April compared with March. The average price – across contract and spot rates – on services from Hong Kong to North America declined to $5.20 per kg in April compared to $5.38 per kg a month earlier.

Read all Air Freight Updates

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 - May 2023

Current State

  • U.S. container import volumes reached 2,020,197 TEUs in April 2023. That is a 9.0% increase in M/M. Comparing volumes to April 2022, TEU volume was down 17.8% Y/Y but up 5.3% from pre-pandemic April 2019. The strong growth in container import volume in April continued to track 2019 volumes for the first four months of 2023, with a difference of 1.5% for the same period each year.

Market Forecast

  • Shanghai Containerized Freight Index (SCFI) was reported to decline by 1.5% week-on-week, while China containerized freight index fell by 1.2%, mainly due to weaker Intra-Asia rates due to competition intensified amid slower than-expected China recovery. Spot rates are losing momentum due to a demand-supply imbalance.

Read all Ocean Freight Updates

Road Freight News - May 2023

Current State

  • During meetings with a private TL carrier, we compared notes on recent industry trends. This carrier noted that Q1 was very challenging, with revenue down 13% year over year, and April and May have not shown any signs of improvement. So as more bids are implemented at lower rates, this carrier expects Q2 could be slightly worse sequentially.

Market Forecast

  • Top U.S. Shippers Industry Update: U.S. toy imports' normalizing' after slipping from record 2022. A surge in demand for toys and games in late 2020 and throughout 2021 reverberated in "unusual sales patterns" in 2021 and 2022, as Hasbro CEO Chris Cocks put it, resulting in a year in which volume was heavily front-loaded in the first half.

Read all Road Freight Updates

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

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