February 19, 2024

What is happening in the Freight Market in February 2024?

The latest information on the air freight, ocean freight and ground freight markets is included in the February downloads. The downloads are conveniently available for you in PDF format.

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.

• Check out our latest client advisory on the Red Sea vessel attacks here
• Reminder: the Carbon Border Adjustment Mechanism (CBAM) for imports into Europe has the first reporting period set for January 31st, 2024. More information here
• Crane Worldwide Logistics provides warehouse availability where our clients need us to be! You can check our our facility in Cincinnati and Columbus as 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

• Air freight rates saw an upward trend throughout January due to the Lunar New Year holiday and reports indicating a shift from sea to air freight amid the Red Sea crisis. 

Download Air Freight Update

Ocean Freight News

• Despite rising tensions at the Suez Canal and dropping water levels at the Panama Canal, U.S. imports in January defied expectations and showed robust growth, according to Descartes. 
• In January, the Port of Los Angeles handled 855,652 TEUs, making it the second busiest start to a year in its history. 

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!