Domestic Market Updates –
Intermodal: The ongoing situation between TCRC union and CN/CPKC has impacted some intermodal loads for CN railway. Per CN data provided to the JOC, intermodal volume has decreased 17% between May 12th to July 14th.
As we’ve mentioned in previous weeks, the CIRB is expected to release their decision on whether a strike/lockout would impact “essential services” to the public, by August 9th.
U.S. Labor Uncertainty: The East/Gulf Coast Dockworker contract expires on September 30th and recently the International Longshoremen’s Association announced they will present their final contract demands to union delegates at a meeting September 4-5th and will also outline strike strategies if an agreement is not reached before the contract expires. A couple key issues in these negotiations are wage increases and automation issues.
Diesel Update: This week the average price of diesel dipped 1.3 cents. Making the average diesel price $3.755, per the U.S. EIA.
Intermodal: Norfolk Southern is investing over $200 million to expand capacity on the 3B Corridor in Alabama, per AJOT. These investments will enhance its ability to connect regional markets to global destinations and support the Southeast’s economic growth. The 3B Corridor is aligned with the Port of Mobile and plays a key role for Norfolk Southern’s traffic.
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