Market Updates: September 24th, 2024

Domestic Market Updates –

U.S. Labor Uncertainty: More questions will hopefully be answered next week, as the looming ILA/USMX contract expiration date arrives, on September 30th. The ILA leadership has stated they will hit the streets on October 1st, if they do not reach a new contract agreement.

For months, the ILA and USMX have been at an impasse, following a halt in talks back in June when the union learned that automated systems were being used at some ports to process trucks.

Have questions? Get in touch with our team today.

Weather: Ports along the Gulf Coast (Louisiana to Florida’s West Coast) are monitoring a tropical storm that could develop into a hurricane and hit the regions on Thursday.

Port Infrastructure: The Ports of Indiana-Burns Harbor is investing $25 million for infrastructure improvements, including the addition of two new railyards and the first entirely new dock in twenty years, per Freightwaves. Back in June, Indiana Ports received approval from the U.S. CBP to begin developing an international ocean container terminal, set to open in 2026.

Diesel Update: After a 10 week decline, this week the average price of diesel increased 1.3 cents to a gallon, per the U.S. EIA.

Trucking Championships: The National Truck Driving & Step Van Driving Championships are coming to Minneapolis, MN in 2025! During the NTDC, drivers display their skills, knowledge, and professionalism through a written exam, pre-trip inspection, and a skills test.

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