Domestic Market Updates –
Diesel Update: The average price of diesel increased by 4.8 cents a gallon, putting the average price of diesel at $3.539 a gallon, according to the U.S. EIA.
Port Infrastructure: Four new ship-to-shore cranes have arrived at the Port of Virginia and are set to be installed. According to Freightwaves, these cranes will enable the number of ultra-large container vessel (ULCV) berths at Virginia International Gateway to double.
Weather: With Interstate 40 still closed through the Pigeon River Gorge following Hurricane Helene, it has posed significant challenges for tractor-trailer drivers traveling between North Carolina and Tennessee, per Transport Topics. Officials from both states are urging drivers to stick to approved truck routes and avoid relying solely on their GPS navigation systems. This is due to drivers mistakenly ending up on narrow two-lane mountain roads, where they sometimes get stuck.
As we mentioned in last week’s edition of Road Map, Interstate 40 is expected to partially reopen through Pigeon River Gorge around January 4th, 2025.
Port of Montreal Labor Talks: In a mutually agreed upon decision, both the MEA (employers) and the CUPE 373 Union have decided to enter a mediation process for a timeframe of 90 days. In a joint release, both parties stated they will not be making any public statements throughout mediation.
Operations have since resumed at the port after the work stoppage.
Truckload: U.S. trailer orders in October continue to see a year-over-year dip, dropping 52% (16,900 units) from October 2023, according to preliminary data from ACT Research. But, they did see growth month-over-month.
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