Baltimore Bridge Incident:
— The Port of Baltimore continues to remain indefinitely closed and salvage crews have started to remove containers from the cargo ship that crashed into the bridge. We have seen ocean freight container rates on this realm to be steady and stable.
— Port of Newark has expanded their truck gates and would be open until 6pm and PNCT will be open on Saturdays from 7am to 3pm, for an undefined time. The Port of Virginia is extending their gate hours by opening at 5am instead of 6am.
Trucking –
- As of April 16th, the average price of diesel was $4.015 a gallon.
- Seeing a 4.6 cent increase from last week.
- CVSA International Roadcheck this year is May 14th-16th.
- The focus is on tractor protection valve, trailer supply valve and anti-bleed back valve.
- Chassis providers are confident that the current equipment pools are able to handle and adjust to cargo re-routing from the Port of Baltimore.
- They do caution that chassis could be occupied for longer if the drayage haul is longer than usual.
Rail –
- BNSF has moved 14% more intermodal volume through their facilities compared to last year.
- Railways have moved $15.6 billion of freight in January 2024, this is down almost 7% from January 2023.
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