Market Updates: October 15th, 2024

Domestic Market Updates –

Weather: Hurricane Milton Aftermath

Port Tampa Bay has resumed vessel operations, and their shipping channels have re-opened due to the impacts of Hurricane Milton. Vessel movements are still restricted to daylight hours as of October 12th. Additionally, power has been restored at the port as of Friday October 11th, after experiencing power outages.  

SeaPort Manatee (a large gateway for fresh fruits/vegetables) also re-opened their ship traffic with restrictions and open to limited landside operations. Open to port users for mitigation and assessment during daylight hours as of October 13th, per their website. They also dealt with power outages, which have since been resolved.

Port Panama City (FL) and JAXPORT have since resumed normal cargo operations.

[Labor]: Port of Montreal:

Dockworkers (Longshoremen’s Union Local 375, approx.1,200 members) at the Port of Montreal have initiated an overtime strike. According to a press release from the Port, the strike began last Thursday, and the workers will refrain from working any overtime for an indefinite duration.

Earlier this month, the dockworkers held a three-day strike (Sept. 30th – Oct. 2nd) at two container terminals at the port. Their previous contract expired December 31st, 2023.

Intermodal: Due to significant damage from Hurricane Helene, Norfolk Southern’s line between Asheville, North Carolina and Newport, Tennessee will be out of service until at least late January 2025, per a press release. NS was able to reopen all their main routes within 72 hours after Helene made landfall.

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