November 17, 2023
What is happening in the Freight Market? Download the latest information!
The November 2023 global freight market updates include the latest on what is happening in the Air, Ocean and Ground markets and are available for you to download in PDF. Please don't hesitate to get in touch with your Crane Worldwide Logistics representative or reach out to us here for further information on how we can support your business.
With increased investment in our global presence, 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.
- New trade advisories have been posted online with recent updates on the current situation in Israel, you can read them here
- Check out our latest on our new facility in Cork, Ireland here AND COMING SOON, additional warehouse space in Calgary, Alberta, more information here
- You can also check out our latest Industry Insight articles here with information about the upcoming road tolls in Germany as well as our top tips for importing into Canada.
- 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
- Air cargo capacity, measured in available cargo tonne kilometers (ACTKs), increased by 12.1% YoY, driven by the strong growth of international belly cargo capacity from airlines in the Asia Pacific, Latin America, and the Middle East regions.
- Airfreight rates on significant east-west trade routes increased in October as the industry entered its customary peak season.
Download Air Freight Update
Ocean Freight News
- Read the latest update on the Panama Canal waiting times impacting many shippers.
- Robust freight demand in Q3 was reported, particularly on its China to US West Coast route. Despite a somewhat subdued peak season, preliminary results show only a marginal 1.3% decline in volumes from China to Los Angeles compared to the previous year's Q3.
Download Ocean Freight Update
Ground Freight News
- Total freight spend in October was down ~23% year over year due to lower shipment volumes and lower prices according to Cass Information Systems.
- Expenditures were down 2% month over month. Seasonally adjusted rates appear to be down 2.4% month over month with shipments down 3% and rates +0.5%.
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. We are here to help!