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March 26, 2024

WeFreight’s March 2024 Market Update: Air Freight, Ocean Freight, Road Freight, and Warehousing Trends 

Stay ahead of the curve with our March Market Update, providing essential insights into the latest trends shaping ocean freight, air freight, road freight, and warehousing operations. 

From capacity constraints to shifting rates, we’ll equip you with the knowledge to make informed decisions for your business. 

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Here’s a glimpse into some key findings: 

  • Air Freight: The global air cargo market’s surprisingly positive start to 2024 continued in February with a second consecutive month of double-digit growth in demand and an uptick in general freight spot rates.  
  • Ocean Freight : After global container transport volumes declined by 4.0% in 2022 and rose by just 0.2% in 2023, the consulting firm Accenture Cargo now expects container transport volumes to grow again by 3.8% in 2024.  
  • Road Freight: US trucking markets stumble into 2024 heading in different directions, with truckload spot and contract rates still depressed amid abundant capacity and less-than-truckload (LTL) pricing climbing. 
  • Warehousing: Warehouse services pricing has seen marginal increases but is expected to rise throughout the year as a large subset of industrial leases are set to expire in the next 18 months. 

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