Travel crane prices continue to fall, according to a new report.
The Travel Lift Crane Association says its latest quarterly report shows that travel crane costs dropped to $1.95 billion in 2019, down 3% from $1,963.15 million in 2018.
The lowest-priced travel crane on record is the Travel Lift Tower Crane, which is a 1,500-foot tall crane that can transport a total of 8,500 cubic feet of cargo at a time.
That means the crane has a value of just over $1 billion.
But the report says the Travel Tower Crane’s price dropped to just $1 million in 2019.
That compares with the $1-billion price tag for the Travel Crane used to transport cargo, which fell to $2.3 billion in 2018 from $3.1 billion in 2017.
The travel crane industry is facing a serious shortage of crane operators.
The industry is currently losing more than $10 billion a year.
The transportation industry is in the middle of a $20 billion funding squeeze.
The Associated Press contributed to this report.