Market Updates: Dec. 12th, 2023

Trucking —

• As of December 11^th, the national average price of diesel is $3.987.Dropping 10.5 cents compared to the week prior.
• Port of Los Angeles is planning to add a near-dock chassis facility and container storage yardThis facility will be used for storing, maintaining and repairing chassis. Plus, a temporary storage yard for empty containers.
• Over 1,100 union workers at DHL express are on strike at a Cincinnati air cargo hub – since Dec. 7^th.Contract negotiations have been ongoing since July.
• UPS and Teamsters Local 89 out in Louisville, KY have reached an agreement to reinstate workers, in order to avoid a strike.

Rail —

• Surface Transportation Board has extended the deadline – to December 20^th – on feedback for its proposed rule on reciprocal switching.
• Union Pacific is expanding their on-dock rail service at Port Houston – including access to four more inland markets
• Georgia Ports Authority approves $127 million for building the Blue Ridge Connector – an inland rail terminalThis new terminal will serve a variety of industries such as consumer goods, heavy equipment, food, and forest products.
• $8.2 billion in additional rail funding was announced last week by the Biden Administration

Cross-Border —

Canada:

• Contract talks out at the Port of Montreal appear to have stalled, as a deadline for a potential strike looms (would not be earlier than January 4^th).
  • The dockworkers union chief negotiator cites the maritime employers have yet to make an offer on a new pay package, as the reason for the stall.
  • Shippers are ‘urging’ the Canadian government to get involved in avoiding a potential strike.