Commerce Express Weekly Road Map:
March 12th, 2024
Keeping you informed on the latest news/insights in our industry.
Trucking –
- As of March 11th, the national average price of diesel is $4.004 a gallon.
- Seeing a 1.8 cent decrease from last week.
- Class 8 truck orders increase in February, per ACT Research data, by 17.4% (27,700 units).
- Interstate 55 bridge between Arkansas and Tennessee will be closed for two weeks, as construction projects continue.
- The closure is planned to last from Sunday March 10th to Sunday March 24th.
- Norfolk Southern is addressing truck congestion that has been occurring at their Landers terminal in Chicago.
- NS is working to re-engineer staffing levels and shift changes to “better align with increased gate activity.” Drivers have been frustrated with multi-hour delays in the afternoon and evening when picking up import containers reports the JOC.
Rail –
- A Norfolk Southern train derailed in Pennsylvania a couple weekends ago.
- Diesel fuel and polypropylene plastic pellets spilled into the Lehigh River. No injuries to the crew. There were no evacuations or hazardous material threat to the community.
- Union Pacific announced last week they would add intermodal service from Barbours Cut Terminal in Houston to Dallas and Phoenix.
Cross-Border –
Mexico:
- Major ports in Mexico moved 728,116 TEUs in January – a 20% increase from January last year.
- Mexico was the U.S. top trading partner in January. Mexico was the top trading partner for the U.S. in 2023.
- Top U.S. exports to Mexico were auto parts, passenger vehicles, and tractor-trailers and buses.
- U.S. – Mexico trade increased by 1.1 year-over-year from January last year.
FMCSA Announces Over $180 Million in Grants for Road Safety
These federal grants, which are included in the Bipartisan Infrastructure Law, are available for several state/territorial/tribal organizations, academic institutions, and others.
“This grant funding is one way we bring in safety partners to help reduce crashes involving large trucks and buses. We are proud to support the critical CMV safety work happening across the country,” says Sue Lawless, FMCSA Acting Deputy Administrator.
This funding is available through five different grant programs:
- The High Priority Innovative Technology Deployment Grant Program
- The High Priority Commercial Motor Vehicle Safety Grant Program
- The Commercial Motor Vehicle Operator Safety Training Grant Program
- The Commercial Driver’s License Program Implementation Grant Program
- The High Priority Enforcement Training and Support Grant Program
Grant applications are due on April 19th at 4pm Central Time. More details can be found here.
Chassis Provider Continues to Invest in Chassis Fleet, U.S. Inland Markets
TRAC Intermodal – a large marine chassis provider and pool manager in the U.S. – plans to invest more in their chassis fleet, tracking technology and specific U.S. inland markets as it prepares for a potential surge in imports, whenever that may be.
Since June 2020, they have invested $490 million to make sure there’s enough units on the road, Daniel Walsh, President and CEO at TRAC, said during a conference last week.
Additionally, TRAC is moving chassis into markets that saw significantly tough chassis shortages back in 2021 and 2022 – such as Dallas, Memphis, San Antonio, El Paso, Denver and Laredo.
“We’re putting units into those markets where we saw demand so if there is a surge we’ll be better able to handle it than we were in the past,” says Walsh.
Commerce Blog
Florida state lawmakers have passed legislative reform designed to reduce predatory billing against professional truck drivers who use towing services in the Sunshine State. The bill now moves to land on the desk of Florida Governor Ron DeSantis, who is expected to sign it into law once received.
Port of Savannah’s First Two Months of 2024 Sees Significant Growth
Intermodal business is booming at the Port of Savannah so for this year, as the port reaches a near 40% year-over-year increase in February.
“The percentage of our loads leaving on the rail has risen from about 15% a year ago to 19% in February, so our rail share has risen several percentage points,” Ed McCarthy, Georgia Ports Authority COO told the JOC. Meaning, 19% of GPA’s February container trade was moved via rail, the remaining was moved by truck.
GPA continues to make big investments in rail infrastructure, as they target more share of the market in places like Dallas, Memphis, and more.
Total Weekly U.S. Rail Traffic for the Week Ending March 2nd, 2024
- Total weekly rail traffic was 483,138 carloads and intermodal units – an increase of 3.9 percent compared to the same time last year, per AAR data.
- U.S. weekly intermodal volume was 262,732 containers and trailers – up 12 percent.
- Motor vehicles and parts, metallic ores and metals, and miscellaneous carloads all saw increases. While coal and non-metallic minerals saw decreases.
- Rail volume in North America in the first nine weeks of this year was 5,792,102 carloads and intermodal units – up slightly at 0.9 percent.
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