November 17, 2022
Download and read the latest on Operations and Carrier updates.
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At Crane Worldwide Logistics, we are equipped to navigate the changes to best support our clients. We will continue to monitor the situation globally to keep you informed.
To see our previous updates, please visit our COVID-19 Resource Center.
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 - November insights
Current State
- September industry-wide cargo tonne-kilometers (CTKs) were 10.6% lower than a year ago, and the seasonally adjusted CTKs also contracted by 1.5% compared with the previous month.
- International CTKs experienced the same YoY contraction as the total industry CTKs in September, declining by 10.6%. This was mainly driven by the negative YoY growth in the Middle East, Europe, and Asia Pacific.
Market Forecast
- IATA Jet Fuel Price Monitor shows the jet fuel price for the week ending November 11th was up 47.3% compared with a year ago at $136.6/bbl. The jet fuel price average for 2022 (year to date) is $141.8/bbl. The impact of jet fuel price developments on 2022's industry total fuel bill is $131.2 billion.
- The most significant decreases vs. the previous month were seen in North America at -9.9%, followed by LATAM at -12.1%.
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 been fluctuating 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. Make sure 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 - November insights
Current State
- U.S imports have significantly fallen in September, and volumes dropped by 12% in total versus August. According to Descartes’ data, U.S containerized imports in October were flat compared to September imports. U.S. ports handled 2,220,331 twenty-foot equivalent units of imports in October, only 0.2% higher than last month. Volume was down 13% year on year yet still up 7.2% versus October 2019, pre-pandemic.
Market Forecast
- Additional blank sailings have been announced for the week 42-52 period. The number of Transpacific void sailings has increased drastically compared to Asia-Europe. However, for weeks 51 and 52, carriers have scheduled no blank sailings on Asia-North America West Coast. This reflects carriers' indecision on approaching the potential pre-Chinese New Year rush since the seasonal demand spike is still being determined.
Read all Ocean Freight Updates
Road Freight - November insights
Current State
- Total freight expenditures in September were +21% year over year, with volumes +5% and implied price/mix +16% year over year. On a month-over-month basis, like-for-like pricing appears to be unchanged as a rise in fuel price and seasonality. While prices likely remain inflationary year over year in 2022 across most modes of transportation (parcel, LTL, rail, airfreight/ocean), we see disinflationary trends and expect deflation in 2023 led by the truckload (TL).
Market Forecast
- Trucking gives mixed signals on clues to a possible economic slowdown. Pitt Ohio Executive Vice President and Chief Marketing Officer Geoffrey Muessig said that LTL freight demand softened in the third quarter and LTL demand in 2022 is not quite as strong as it was in 2021. “However, it needs to be noted that LTL carriers experienced red hot demand for their services in 2021,” Muessig told analysts. “We’re busy, and demand for our LTL service is strong in 2022. Most LTL drivers continue to work overtime weekly since driver availability is still restricted.” As for economic expectations in 2023, Muessig said they “are all over the board.” He noted that some shippers expect business levels to remain strong, while others are planning for a shallow drop in shipment count. “Very few of our shippers have voiced concern about a steep recession to me,” Muessig said.
Read all Road Freight Updates
