January 15, 2023
Download and read the latest on Operations and Carrier updates.
We are prepared to navigate the changes at Crane Worldwide Logistics to support our clients best. We monitor developments globally to keep you informed.
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 News - January 2023
- In November, global air cargo tonne-kilometers (CTKs) dropped by 13.7% year-on-year (YoY). This is also 10.1% lower than the CTKs for the same month in 2019. The industry performed less well than expected in a traditional peak season due to multiple headwinds in the current global economy.
- IATA Jet Fuel Price Monitor shows the jet fuel price for the week ending January 8th was up 41.00% compared with a year ago at $124.8/bbl. The impact of jet fuel price developments on 2022's industry total fuel bill is $124.8 billion.
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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 fluctuated 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 News - January 2023
- Chinese export container rates drop unexpectedly despite the Chinese New Year (CNY) cargo rush. Spot rates for containers loading in Shanghai usually are 12% higher just before CNY. Similarly, container rates loading in China will typically end at 4% higher than usual. However, the China Containerized Freight Index (CCFI) has seen a 50% drop since February 2022, and it has continued to fall by a further 27% since mid-November. From 2011 to 2020, the CCFI, on average, increased by 3% in the seven weeks from week ten before CNY to week three before CNY. So far, the development in 2023 is the worst in 13 years. For exports to Europe and the Mediterranean, the index has fallen by 34% and 57%, respectively, during the last seven weeks, while for exports to the US West Coast and East Coast, CCFI is down by 26% and 27%, respectively.
- Asia-North Europe World Container Index recorded a 10% increase in the spot rate reading from pre-Christmas levels. However, export demand to North Europe ahead of the Chinese New Year (CNY) remains low and is expected to stay at those low levels post-holiday. Demand is currently subdued due to an inventory oversupply, and the possibility of a demand surge if an inventory overcorrection happens would depend on the depth and duration of the current economic downturn in Europe, which is expected to occur in 2023. The worst-case scenario is that the surge could be postponed until early 2024.
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Road Freight News - January 2023
- Truckload spot market demand declined over the last 30 days, with commentary highlighting softening organic demand and normalizing inventory levels. Spot market demand through mid-November is down 40% year over year, and spot market capacity is up 75% yearly to its highest level since early COVID (Q1 2020).
- Preliminary Class 8 truck orders finish 2022 with declines. FTR reported that prior December net orders, 28,300 units, were down for the third consecutive month, decreasing 21% compared to November, with orders "quickly moderating," said FTR. But on a year-over-year basis, December orders are up 25%, with orders over the last 12 months coming in a cumulative 302,000 units.
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For questions or assistance, please get in touch with our experts.