Industry Insight - August 2024

International logistics is a careful balance of getting the right product to the right place at the right time for the right cost... but with external challenges impacting the flow of goods around the world, which element takes priority?!

At Crane Worldwide Logistics we work in partnership with our clients to provide solutions with flexibility to adjust to the dynamic international market.

The human element makes a difference when challenges prevail - with quick action, attention to detail and seamless communication. Our vision at Crane Worldwide is to enable global trade for our clients at the highest level of excellence.

Please find below our latest market updates providing industry insight for Air Freight, Ocean Freight and Ground Freight that are available to download for your convenience.

Market Update Summary

Your PDF copies are available to download here

Air Freight

• Cargo capacity, indicated by available cargo tonne-kilometers?(ACTKs), saw an 8.8% rise compared to June 2023, with?international operations showing a 10.8% increase.
• Overall, demand in the first half of the year (H1) rose by 13.4%?compared to H1 2023, 4.3%

Ocean Freight

• Despite concerns over a cooling economy, the Port of Los Angeles and Long?Beach experienced one of their busiest months ever in July, approaching the?record highs of May 2021.?
• On Friday, August 9th, an explosion occurred aboard a Yang Ming vessel that?closed the port of Ningbo’s Beilun Phase III Terminal for 60 hours. Reopening at?midnight on Monday, August 12th

Ground Freight

• Over the last 30 days, contract TL rates were slightly lower?and are down ~7% year over year as they continue to?narrow the spread towards spot market rates, which appear?to be chopping along a bottom since mid-2023.
• Freight shipments across all domestic modes were?down ~1% year over year yet up 3% month over month, according to Cass Systems

In the News

The current situation relating to the potential disruption of rail freight cargo in Canada is in the news. You can read more about the latest information and FAQ regarding the logistics implications of the strike/lockout here

Our logistics experts in Canada are ready to support you with alternative solutions, if necessary, get in touch here

Warehouse Spotlight - Boston

Crane Worldwide's Boston 3PL warehouse is 104,000 square feet with 36 foot high ceilings and twelve loading docks with access to the major Interstate Highways. The Boston warehouse is near Logan International Airport, between Boston and Manchester cities. Pick up is available throughout New England including Massachusetts, New Hampshire, Maine, Vermont and Rhode Island.?Interested in learning more? Get in touch

Coffee with Crane - Podcast

Our regular podcast featuring all the latest news is available on multiple platforms for a bitesize insight into the world of logistics. The podcast is available via our website and on your favorite podcast players and via our website.

• Spotify
• Google Podcast
• Apple Podcast

Why Crane Worldwide Logistics?

• With a legacy in logistics, our people's expertise, deep industry knowledge and can-do attitude makes a difference to our global and local clients.
• As a privately owned company, we have a flat structure which enables quick decision-making. This enables the team to provide the best solutions for our clients.
• Partnerships make a difference and through organic growth with our clients, we have developed a global footprint with local representation and continue to grow.?We will invest where our clients need us to be.
• Our technology platform was developed in-house with a holistic view of our client's need for real time information.
• We make a difference in the communities in which we operate. Our Crane Cares initiatives are deeply embedded into our corporate culture.

We are living in extraordinary times with constant change in?global markets. Our flexible and dynamic approach accompanied by our value proposition presents our dedication to our clients through our Technology, Service and People.

Reach out and get to know us . Here to help and Make a Difference... The Crane Way.