Domestic Market Updates –
[STRIKE ADVISORY]: U.S. East/Gulf Coast Officially Go On Strike:
Well folks, here we are. A strike has officially started on the U.S. East/Gulf Coast (affecting ports from Maine to Texas) as of 12:01am today. It is uncertain how long this strike will last or when/if the government will get involved. Wages and automation continue to be key issues in negotiations. Latest reports say the recent offer from USMX, including a 50% wage increase, have been rejected by the ILA.
We will continue to post updates on this situation in this newsletter every Tuesday. If you have questions or would like to talk with a member of our team on how to mitigate through this, please contact us.
[STRIKE ADVISORY]: Port of Montreal: The Canadian Union of Public Employees (CUPE) Local 375 issued a 72-hour notice to strike, beginning September 30th to October 2nd, with operations resuming on Thursday, October 3rd. The strike will impact terminals Viau and Maisonneuve, while the Port of Montreal’s other terminals will remain operational. Access to the affected terminals is prohibited, and no rail, ship, or truck services will be available during this time, the port has stated.
Weather:
Last Thursday, Hurricane Helene, a Category 4 storm, made landfall in Florida’s Big Bend before weakening to a tropical storm as it moved through Georgia, the Carolinas, and Tennessee.
Florida’s seaports have now reopened and resumed operations. South Carolina Ports Inland Port Greer is also back in service.
However, Western North Carolina has faced significant challenges with severe flooding, destroyed roads, and widespread power outages. The NC DOT has advised that all roads in that region should be considered closed. Interstate 40 and Interstate 26 are impassable at many locations.
Diesel update: The average price of diesel increased 0.5 cents a gallon, putting the average price of diesel at $3.544, per the U.S. EIA.
Truckload: Starting October 1st, the sale of the final freight terminals owned or leased by the bankrupt less-than-truckload carrier Yellow Corp will begin, per a court filing. This includes 47 owned terminals and 65 leased properties, which feature over 3,100 and 4,000 doors, respectively, per Transport Topics. This sales process is expected to be finalized as early as January.
Rail: Last week, Whitewater Township, a town of 6,000 In Ohio, was evacuated due to a hazardous styrene leak from a railcar. According to AP News, the evacuation order has now been lifted, allowing residents to return home. An investigation into the leak is ongoing, along with efforts to assist those affected by the incident.
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