Key market updates this month:
- The International?Longshoremen’s Association (ILA) and the United States Maritime Alliance, Ltd.?(USMX) reached a tentative agreement
on wages and have agreed to extend?the Master Contract?until January 15, 2025.?
- The implementation of CARM for Canadian customs is coming up in October. Canada Border Services Agency (CBSA) will be implementing the Canada Assessment and?Revenue Management (CARM)
Release 3 on October 21st, 2024.?
- Looking ahead, the Lunar New Year 2025
sees factories closed during the?festive period and will commence on?29th January 2025 which is an earlier date than in 2024.
Latest Market Updates are available to download in PDF.
Air Freight News
- Global Cargo Tonne-Kilometers (CTK) rose by 11.4%?year-on-year (YoY), marking the ninth consecutive?month of double-digit demand growth and the second?consecutive month of record year-to-date demand?levels. However, after adjusting for seasonality,?demand declined slightly by 0.2% month-on-month?(MoM).
Ocean Freight News
- The International Longshoremen’s Association and the United States?Maritime Alliance, Ltd. have reached a tentative agreement on wages and?have agreed to extend the Master Contract until January 15, 2025, to return to?the bargaining table to negotiate all other outstanding issues.?
- Container lines are facing increased challenges with Hazardous Cargo at the?Port of Ningbo due to newly announced regulations.
Ground Freight News
- Total freight spend in September was down ~7% year over?year due to 5% lower shipment volumes and 1% lower prices?(incl. fuel) according to Cass Information Systems.?
- Compared to August, expenditures were +2%, while?shipments were down 2%. Seasonally adjusted expenditures?appear to be +1% month over month as rates were down?4% month over month while shipments were down 3%?month over month.
Warehouse Spotlight
Check out the space we have available in 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.
Check out our video here so we can show you around: Boston Station Overview
Why Crane Worldwide Logistics?
The vision of Crane Worldwide is to enable global trade for our clients at the highest level of excellence, create a sense of accomplishment for our?team members, and elevate the communities we work in.?Every day, we make a difference and aspire to leave a legacy in the logistics industry to improve the quality of life for millions of people around the globe.
- 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, family run business, 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.
