Commerce Express Weekly Road Map: August 24th, 2021
Keeping you informed on the latest news/insights in our industry.
Commerce Express Blog
Freight rail interests are calling upon federal regulators not to burden their industry with additional mandates, that they say could hinder investments for innovation. The Biden Administration (via executive order) recently charged the Surface Transportation Board to promote competition and economic opportunity and to resist monopolization within the freight rail industry. Back in July, the board asked Class I railroads to explain how they were going to address the congestion that has been occurring at intermodal terminals.
BNSF reopens intermodal facility; KCS, Savage plan rail port
An intermodal facility in Arkansas has finally been reopened by the BNSF, to meet demand and help clear some of the congestion in the Memphis, Tennessee area.
All international intermodal shipments originating at the Port of Long Beach’s Pier T Terminal will now terminate at the Harvard facility. Additional origination locations and train starts are being evaluated as well, BNSF said, reported by Freightwaves.
Savage Services and Kansas City Southern are working together to construct a multicommodity railport in Mossville, Louisiana, to serve refineries, chemical plants and other industries in the Lake Charles area. The rail port will have transload and railcar storage opportunities. Both are expecting the facility to be operational by January.
Continual rate increases predicted into 2022
Things in the trucking industry are still not being alleviated, which is not a shock to most. Early indicators are pointing to truckload rates being up again in 2022. Werner enterprises are seeing rates up 3% to 5%, perhaps even higher, reported by Freightwaves.
Some of the reasons to believe that meaningful truck capacity won’t be added quickly are attracting and retaining drivers, delayed equipment delivery schedules from manufacturers, and retailers playing catch up on inventories.
We understand how frustrating the market conditions have been and continue to be in the future. If you have any questions/comments please reach out to our team today.