Commerce Express Weekly Road Map:
July 2nd, 2024
Keeping you informed on the latest news/insights in our industry.
Being Mindful of Cargo Theft Throughout the July Fourth Holiday Period
The Fourth of July Holiday period is this week and with that comes lots of traffic. It also comes with the potential of increased cargo theft to occur. In the past, holiday periods have seen upticks in cargo thefts. And while it doesn’t happen to everyone, it’s never bad to be aware of the potential.
California, Texas, and Florida are the highest targeted states by cargo thieves, per CargoNet data. Non-alcoholic beverages, appliances and computer electronics remain the most targeted items.
On this same topic, recent legislation has been introduced to address this issue. Congressman Valadao (CA) introduced the Safeguarding Our Supply Chains Act, on June 25th. This legislation includes measures and funding in an effort to address the increasing problem of cargo theft and supply chain fraud.
Commerce Blog
On Tuesday, the National Transportation Safety Board (NTSB) released a report detailing cause, critique, and recommendations surrounding the February 2023 derailment of a Norfolk Southern (NS) train laden with toxic materials in East Palestine, Ohio.
Following the accident, which occurred late evening on Feb. 3 of last year, NTSB has undergone a full investigation over the derailment, including hearings where NS (Class I railroad) officials were questioned on their safety protocols and handling of the situation.
Diesel update: For a third consecutive week, the average price of diesel increased; up 4.4 cents to $3.813 per gallon, the U.S. EIA reports.
Holiday Impact: It’s the week of the Fourth of July! Expect an increase in demand in the days leading to July 4 (Fourth of July holiday) as shippers push to get orders out before they and/or their transportation providers temporarily close or limit operations. Truckload rates around the holiday are typically at premium levels.
Intermodal: Over the weekend, TCRC union voted to reauthorize strike action and indicated they would initiate strike action at the earliest chance. Re-authorizing of strike action typically does not happen, but due to the CIRB request (on if rail services are deemed as essential), the strike action was put on pause. It’s unknown when the CIRB process will conclude, but some reports say disruption could take place in mid-July. This remains a fluid situation and we’ll continue to post weekly updates when applicable.
Cross-Border (Mexico): The U.S. has slowly resumed avocado inspections in Mexico after shipments and inspections were temporarily halted due to protests back on June 14th.
Infrastructure: U.S. West Coast ports Los Angeles and Long Beach are investing millions in charging infrastructure for EVs. Trucking interests have been asking for more investments into charging infrastructure in order to comply with rigorous zero-emission regulations in the future.
Truckload shipments? We have you covered!
Our experts have worked with many shippers in transporting their truckload shipments throughout North America.
Reach out to our team today, if you have any questions or concerns about your truckload shipments.
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