Market Updates: November 12th, 2024

Domestic Market Updates –

[Labor] Work stoppage at Canada ports:

Vancouver/Prince Rupert – Current work stoppage at the port began on Nov. 4th, and according to a Nov. 7th press release, the union and the BCMEA were scheduled to meet on Saturday, Nov. 9th. Ports that are directly impacted are BCMEA member terminals where the union is employed at. Some rail embargoes are in place, see your specific railway for more details.

Montreal – per the longshoremen’s union, they have rejected a final offer by their employers (Maritime Employers Association). This in turn led the MEA to issue a worker lockout, as they said they had no other option. As the AJOT reports, with this lockout starting, only essential services not relating to longshoring will continue at the Port of Montreal.

Intermodal: Canadian Pacific Kansas City (CPKC) and CSX will launch a new intermodal service linking Mexico to the Southeastern U.S starting December 1st, per the JOC. This service will compete against another similar service that was launched last year in October by Ferromex and Union Pacific.

Cybersecurity: TSA has put forward a proposed rule that would impose cybersecurity risk management and reporting requirements on specific freight and passenger railroads, along with rail transportation systems.

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