Domestic Market Updates –
[Labor] Work Stoppage ENDS at Major Canadian Ports:
After a 10-day work stoppage, the Canadian government has instructed the Canada Industrial Relations Board (CIRB) to mandate the unions to return to work and enforce final, binding arbitration.
It is anticipated that processing all containers currently at the port, as well as those due to arrive in the coming days, will take some time – potentially a few weeks. During the disruption, vessels were anchored off-shore, and both CN and CPKC halted intermodal train services to the trade gateways.
Cross-Border:
On Tuesday and Wednesday of last week, congestion built up on the Mexico side of the World Trade Bridge as demonstrators blocked the roadway leading to the bridge in Laredo, Texas. As a result, all northbound cargo trucks from Mexico to the U.S. were redirected to the Colombia Solidarity International Bridge, according to Freightwaves. This disruption affected a key route for cargo traffic and cross-border trade.
Diesel Update: The average price of diesel decreased by 3 cents a gallon, putting the average price of diesel at $3.491 per gallon, according to the U.S. EIA.
Additionally, gas prices are lower this Thanksgiving season compared to last year. According to Trucker News the national average was $3.26 on Thanksgiving Day last year, but falling oil prices, this fall might push the national average below $3 a gallon, for the first time since 2021, possibly before the travel rush.
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