Domestic Market Updates –
- Diesel Update: As of June 3rd, the average price of diesel was $3.726 a gallon. Seeing a 3.2 cent decrease from last week, per the EIA.
- Labor: So far there has been no contract agreement reached between the Canada rail union (TCRC) and their employers (CN and CPKC). CN has revised their offer to their employees, by dropping their hourly wage rate and scheduling proposal. Mediation efforts continue and no strike or worker lockout is planned, as of now, due to the ongoing CIRB investigation. This remains an ongoing situation…
- Baltimore Bridge: The whole Port of Baltimore channel is expected to be completely open by June 10th, which is a little later than their original target date of late May. The date pushback is due to the continuation of removing debris from the Francis Scott Key Bridge, Transport Topics reports. It should be noted that larger vessels have been able to go through via a limited access channel earlier in May.
- Labor: Border agents in Canada have enormously voted to authorize a strike against the Canadian government. Mediation efforts are scheduled for June 3rd, per the Customs and Immigration Union. Additionally, the group representing the agents (Public Service Alliance of Canada and the Customs and Immigration Union) say they could legally go on strike effective June 6th – if a 72-hour notice is authorized.
- Elections: Over the weekend Mexico elected a new President, Claudia Sheinbaum, the first woman to be elected President in Mexico’s history.
- Legal: Trucking Association of New York vehemently oppose the new potential congestion fee toll for those entering into Manhattan. As of now the toll is set to go into effect June 30th, per Freightwaves. More details here.
- Congestion: At the Port of Charleston, some vessel congestion has been reported, largely due to the construction of a project at the Wando Welch Terminal as well as recovering from the fallout of the software issues that occurred at the port a couple weeks ago. As of June 2nd – there were 11 vessels at anchor at the Waldo Welch Terminal at the Port of Charleston, per the SC Ports vessel schedule report. Reports say the impact of this has been minimal.
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